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What do I do if my health insurance is employer-based and I lose my job?

Diana Meeks
Diana Meeks on behalf of Sigma Nursing
Family Practitioner

If you are losing your employer-based health insurance coverage you have several options. The first option to consider is purchasing a COBRA policy. COBRA refers to the Consolidation Omnibus Budget Reconciliation Act, which requires an employer to offer the same coverage you have had for a specified time if you pay the premium. The premium may be higher than you have paid because the employer generally is no longer required to pay a portion. If the premium is financially burdensome, you may consider purchasing an independent policy from a private company. Depending on the coverage you desire, you may be able to pay a smaller premium for a smaller policy. If you are confident that you will begin another job soon, a COBRA policy may provide the bridge you need until your new employer based coverage begins.

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Important: This content reflects information from various individuals and organizations and may offer alternative or opposing points of view. It should not be used for medical advice, diagnosis or treatment. As always, you should consult with your healthcare provider about your specific health needs.