What about my spouse if I lose my coverage through my job?
This is one of the most frequent questions I have answered since this pandemic has taken root. If your spouse has been on your policy at your job and you have lost coverage through a layoff. If your spouse has pre-existing conditions your two best options are going to be COBRA or the Marketplace.
COBRA or Consolidated Omnibus Budget Reconciliation Act requires you to be able to keep your coverage through your employer’s group coverage. You will have to pay up to 102% of the premium without your employer’s contributions this could be an expensive option. Some of those plans could go as high as $900 per person.
The other option for someone with pre-existing health conditions is the Marketplace or ACA or OBAMA Care. This is the government backed plan signed in 2010 and started in 2014. They by law cannot prevent someone with pre-existing conditions from getting coverage. Please keep in mind you have 60 days from the time you lost coverage to enroll in a plan from the marketplace. The costs of the plans are going to be determined by your household income for the current year.
Your plan will also start on the 1st of the month without exception. The other issueyou may incur is having to choose a new doctor. A lot of the doctors are not accepting marketplace. Not trying to be negative, but I feel it is important to give you the good bad and the ugly on any option when it comes to coverage.
There are other options for people that have no pre-existing issues to be concerned about. Most of the plans are more for a catastrophic event. These plans are more of a buildyour own type plan. Most do not have copays for doctors, and you will have to meet a deductible before the insurance will cover. Please, Please, please beware of the first day coverage type of plans. There are plans out there that will give insurance in name only. I could give names but do not want to get hassled by agents. Stay away from Christian Ministry policies, these are a rip off.
If you have any questions, please give me a call or shoot my an email with any questions. Be d=safe and sane in these crazy times and as always do something nice for someone just because.
All the Best,
Randall J. Lawson
The HgO Group
National Producer Number #9276045