As the economy continues to struggle toward recovery, job losses due to layoffs and company closings continue to occur. Unfortunately, for some of you that will mean loss of health insurance benefits as well. If you’re wondering what to do, we’ve outlined your options below.

Continue on your current health insurance plan through COBRA. When employees are laid off, federal law requires the employer to allow those employees to continue their group health insurance plans if they choose to do so. However, under the COBRA law you would be tasked with paying the full cost of premiums, including the share your employer formerly covered.

This might be a feasible option for those whose spouses are still employed, and can cover the full cost of premiums. But for many people facing unemployment, continuing COBRA coverage is not a financial possibility.

Enroll in an individual health insurance plan via a Special Enrollment Period. If continuing your group healthcare benefits is not an option, do remember that job loss qualifies you for a Special Enrollment Period through Covered California. You can compare plans and enroll in one that fits your needs and budget. You might also be eligible for a subsidy to help with the cost of premiums, especially if your income is now limited.

Depending upon income, you might be eligible for Medi-Cal at no cost.

If you’re facing this unfortunate situation, do remember that you have options, and you don’t have to go without health insurance. Give us a call to discuss those options, and we can walk you through the different choices that might fit your healthcare needs and budget. In the meantime, we’ll keep you updated with any new provisions supplied by the federal or state government as they continue to adopt measures to help those whose employment has been impacted at this time.