Thu, 29 Oct 2020

Laid-Off Workers worry about living expenses and fear the burden of illness. So, can they also be protected? Yes! Nevada's insurance enrollment explains how to get health insurance if you lose your job.

Las Vegas, NV (Merxwire) - COVID-19 hitting the global economy. If you recently lost your job, or may lose your job, or even other colleagues have already been laid off, then you may be worried about your future jobs and bills. According to the Kaiser Family Foundation, about half of Americans, including nearly half of the Nevada population, purchase health insurance through their employers.

Not having health insurance is a huge risk and a public health crisis. For those who have recently become unemployed, life will be more difficult if they become ill when they are not working. There are several options to keep them within the scope of health insurance.

COBRA Coverage

Depending on your former employer's policies, you may be able to extend your current health insurance plan through the Consolidated Omnibus Budget Reconciliation Act, or COBRA. However, this option is cost-prohibitive for many. While you are employed, your employer pays a significant portion of your monthly premium. If you choose this option after losing your job, you pay the full amount of your premium, along with a potential 2% administration fee.

Silver State Health Insurance Exchange

Losing health insurance due to job loss is a qualifying life event that opens a Special Enrollment Period to choose a plan through the Silver State Health Insurance Exchange. During this time, you can select a comprehensive health insurance plan similar to the one that you have through your employer. You'll only have 60 days from the date of your "Life Event" (losing group insurance coverage) to act, so it is important to act quickly to avoid being ineligible to enroll into a "qualified health plan" that covers pre-existing conditions. This may be a very economical option, as you may qualify for a federal subsidy (financial help) to lower your monthly premium.

More information please visit: https://www.nevadainsuranceenrollment.com/health-insurance-options-for-laid-off-workers/

SOURCE Nevada Insurance Enrollment

Media Contact Information:

Company Name: Nevada Insurance Enrollment
Contact Person: Shelly Rogers
Phone: +1-702-898-0554
Email: info@nevadainsuranceenrollment.com
Country: United States
Website: https://www.nevadainsuranceenrollment.com/

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