How Unemployed Individuals Can Access Healthcare Benefits
With the economy slowing down and the pandemic affecting every aspect of life, many people have found themselves out of jobs. This has resulted in a lot of financial difficulties, including making it harder for individuals to access healthcare benefits. In this article, we’ll discuss how unemployed individuals can access healthcare benefits and what options are available.
Understanding Your Healthcare Benefits
The first step towards accessing healthcare benefits is to understand what you are entitled to. Most people obtain healthcare benefits through their employer, which means you may lose your coverage once you become unemployed. Fortunately, some employers offer a scheme known as COBRA which allows an employee to continue receiving benefits even after termination. COBRA coverage can be expensive because the former employer may no longer contribute to the plan, which requires the employee to pay the full premiums.
In addition to COBRA, unemployed individuals may also be eligible for Medicaid, a program aimed at providing medical care to low-income households. Eligibility standards vary from state to state, but generally, individuals with an income up to 138% of the federal poverty level (FPL) are qualified for Medicaid. Another healthcare initiative is CHIP (Children’s Health Insurance Program) that provides affordable medical coverage to children belonging to low-income families.
The Affordable Care Act
The Affordable Care Act (ACA), commonly known as Obamacare, was enacted in 2010 to give more people access to quality, affordable health insurance. Among its provisions, the ACA offers government subsidies to help individuals purchase healthcare coverage on the insurance marketplace. With the healthcare.gov portal, individuals can shop for health insurance and compare health plans and prices. The subsidies are granted based on income and can greatly assist individuals who were recently laid off.
Navigating Healthcare Benefits
Navigating healthcare benefits can be tough, especially for someone new to finding and selecting the best options available, particularly with ample but unique choices for each person. There are numerous resources available for those seeking healthcare benefits, including healthcare navigators or licensed insurance agents. These experts are trained to provide assistance and answer any health insurance related inquiries, from finding the right plan for your medical needs to navigating the application process.
Conclusion
Being unemployed shouldn’t mean you lose your healthcare benefits. There are different government policies and subsidies available to help individuals gain access to medical care. However, it’s important to know and understand the different options available to make an informed decision. The healthcare.gov portal can be a helpful tool in finding insurance plans, and healthcare navigators and agents provide expert advice to help through the buying process. With the right information and guidance, getting healthcare without a job can be made manageable.
