I'm trying to plan ahead in case the worst happens. What do people do about health insurance after they're laid off? Is there COBRA? Are there other options? I'd really like to know what to expect.
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@bs I also second MN Care because there are multiple options based on income (or lack of it) from a low cost option to actual Medicaid - that is if Cobra isn't an option. Don't be ashamed to have to seek out social services if you need them. You paid your taxes. And it helps as a temporary safety net if you qualify. Some people truly do qualify yet are too embarrassed. Don't be.
COBRA is required by federal law. It can last for up to 18 months. If you separate, by law you have the chance to use COBRA. It is expensive per above and MNsure might work for less money depending on your personal circumstances.
Health insurance coverage ends at the next pay period, and then you get the COBRA option.
When I quit, nobody offered to explain benefits to me and I stupidly assumed they’d be valid for the rest of the month. But this was not the case! Learned when I went to fill a prescription. I’ve quit 5 jobs, Target is cheap as fu-k with its insurance.
Fortunately I had another job waiting for me but I had a 30 day waiting period for bennies.
COBRA can be filed retroactively for a certain period of time, so I went without for 5 weeks and was prepared with the paperwork filled out and a check in case something catastrophic happened. But I didn’t pay for it during the gap.
Is there another layoff coming?
If you’re a Minnesota resident, Minnesota Care is an excellent option: https://mn.gov/dhs/people-we-serve/adults/health-care/health-care-programs/programs-and-services/minnesotacare.jsp
They qualify people based on current income, not YTD earnings, so if you’re single and unemployed you qualify for free health insurance. If you’re married, you may still qualify for discounted insurance.