What Health Insurance Options Do You Have After Leaving a Job?

Leaving your job means more than just leaving your employer. It also means leaving behind your benefits, like work-sponsored health insurance plans.

If you're looking for health coverage backups when you leave your job, you've got a few to choose from:

COBRA

The Consolidated Omnibus Budget Reconciliation Act, COBRA, is when you get your old employer's healthcare coverage after you've stopped working for them.

You get to keep your current plan while exploring other options. Using COBRA is also a good option if you have dependents on your plan, like a spouse or children. It helps them keep their insurance, doctors, and level of care.

Healthcare Marketplace

With the Affordable Care Act (ACA), you can sign up for health insurance any time after you leave your job during the year.

Leaving your job qualifies for a special enrollment period, so you don't need to wait until open enrollment to get health insurance. In addition, depending on your income, you might qualify for a subsidy.

Parent/Spouse Plan

If you're under the age of 26, you might qualify for health insurance on your parent's plan. Even if you're married, you can get or stay on your parent's plan until your 26th birthday.

If you're not eligible for this, look into getting added onto your spouse's health insurance plan through their employer, if it offers coverage for dependents.

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