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What if I am losing job based insurance?


If you are losing job based insurance, you should probably be able to continue your insurance coverage under the Consolidated Omnibus Budget Reconciliation Act (COBRA). Since the passage of COBRA in 1986 most job based health insurance policies give individuals 60 days from the qualifying event that caused them to lose their job based insurance to choose to continue the benefits provided by the plan. If you choose to maintain the insurance coverage you must pay the premiums. Group health coverage for COBRA participants is usually more expensive than coverage for a single participant, because in most cases the employer had previously paid part of the premium. If you continue your insurance after losing your jobs sponsorship, you can make arrangement to continue coverage with the original insurer.


If you decide to buy a new plan you can shop through an agent or broker or search through the Affordable Care Act (ACA) insurance Marketplace.  If you decide to search for insurance through the marketplace you can start at the federal online health insurance portal.  Once you enter the website you will be directed to your states insurance exchange. Once you enter the exchange you can take the following steps:


  1. Create an account
  2. Provide income information so the it can be determined if you qualify for a tax credit
  3. Review the different plans.  The plans come in four categories, ranging from Bronze to Silver to Gold to Platinum and they each have different deductibles, copayments and out of pocket expenses.
  4. Enroll in the plan of your choice


Once you enroll the plan can go into effect on January the 1st of 2014.

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