If the financial strain of losing a job wasn't enough, you also risk losing access to any employer-provided benefits, such as health insurance. Paying for an individual health insurance plan without a steady source of income may seem impossible. It doesn't have to be that way, though. Unemployed people have a variety of insurance choices accessible to them, but they must act quickly.
When you lose your work, you are eligible for a special enrollment period in the government-run health insurance marketplace, but it only lasts 60 days. You may also get private health insurance, which can provide greater freedom than conventional coverage. In several states, for example, short-term insurance of up to a year are available.
Of course, you can choose COBRA coverage, which requires you to pay the full cost of your old employer's health insurance policy. COBRA premiums, on the other hand, are usually more expensive than other choices. We compared policies from 30 insurance providers throughout the country to identify the best health insurance for unemployed people. We've picked the seven best carriers to be covered while you seek for your new job after extensively reviewing coverage choices, cost, flexibility, and perks.
The 7 Best Health Insurance Plans for Unemployed
- Best Overall: Sidecar Health
- Best Short-Term Coverage: The IHC Group
- Best Catastrophic Coverage: BlueCross BlueShield
- Best for Telehealth: Cigna
- Best for Families: Oscar
- Best With Dental: Ambetter
- Best Provider Network: UnitedHealthcare
Sidecar Health
The low-cost, no-commitment health insurance offered by Sidecar Health Access Plan is flexible and reasonable, making it the greatest option for jobless people. https://sidecarhealth.com/
Pros
- Monthly premiums are low.
- Visit any service provider.
- Digital tools of the highest level
- You can join and leave at any moment.
Cons
- State-specific exclusions, such as maternity leave, differ.
- Claims procedure is complicated.
- Only 17 statesase buttons are available.
Sidecar Health, which was formed in 2018, is seeking to reimagine how people obtain health insurance. Sidecar Health provides you a payment card that you use to pay for your appointment in cash instead of displaying your insurance card at the doctor's office. You may see any doctor without being confined to a provider network because you're effectively paying out of pocket utilizing the plan benefits. You may sign up for coverage at any time, unlike traditional insurance, and there are no open enrollment periods to worry about.
Plans may be purchased utilizing a quick and easy application form online or through the Sidecar Health smartphone app. Following that, you may either buy one of three pre-configured plans or create your own unique coverage. By default, standard plans have a $0 deductible, but bespoke plans enable you to specify a deductible of up to $1,000 to lower monthly expenses. Premiums for a healthy 50-year-old adult in Texas start at $215 per month with a $0 deductible, but coverage is limited to $10,000 per year.
Alabama, Arizona, Arkansas, Florida, Georgia, Indiana, Kentucky, Maryland, Michigan, Mississippi, North Carolina, Ohio, Oklahoma, South Carolina, Tennessee, Texas, and Utah are the only states where Sidecar is accessible.
Unfortunately, if you or someone in your family is having a child, Sidecar Health won't be an option in some states since its maternity care rider isn't offered everywhere with its base plan. Sidecar's ACA plan, on the other hand, includes maternity and infant care.
You should also be aware that the process of receiving care is a little more time-consuming than you may be used to with normal health insurance. For each therapy, your Sidecar Health card will only cover a certain monetary amount. Because each doctor determines his or her own out-of-pocket costs, you'll need to call around and inquire about costs before making an appointment. The Sidecar Health smartphone app, thankfully, has a pricing comparison function that makes things a little simpler.
Sidecar Health Insurance Solutions, LLC markets and administers the above-mentioned plans, which are underwritten by Sirius America Insurance Company or United States Fire Insurance Company, depending on the state. It does not provide comprehensive/major medical cost coverage, minimum necessary coverage, or essential health benefits as an excluded benefit plan. You will not be eligible for an ACA subsidy (premium tax credit and/or cost-sharing reduction) if you acquire an excepted benefit fixed indemnity insurance plan.
Furthermore, the termination or cancellation of this policy does not entitle you to a special enrollment period outside of an open enrollment period to purchase a health benefit plan that qualifies as minimum necessary coverage. In some states, coverage and plan options may vary or be unavailable.
The IHC Group
The IHC Group's short-term medical plans (STM) are the ideal method to stay insured for nearly a year if you need to fill a temporary gap between employer-sponsored health insurance. https://www.ihcgroup.com/
Pros
- Flexible periods of up to 364 days are available.
- Benefits of $2 million per year are included.
- Adding supplemental coverage options
Cons
- High copays and deductibles
- Not all states have it.
An STM plan may be the greatest option if you're presently unemployed but know you'll get health insurance in the coming year. The IHC Group specializes in short-term insurance that may be purchased with coverage beginning the next day, making them our top choice for this type of coverage. Keep in mind that STM insurance aren't ACA-compliant, which means you won't be covered for federally mandated no-cost preventative care, and you might be refused based on your medical history.
Because the availability of STM is governed by state law, coverage possibilities differ depending on where you live. Due to local constraints, it is now unavailable in several states. In most states, STM insurance from the IHC Group start at $50 to $100 for a 35-year-old adult, with coverage for dependents available as well. Depending on your state, you'll also be able to add dental, vision, prescription, and telemedicine coverage for an additional $25 a month. There are three deductibles to choose from: $2,500, $5,000, and $10,000, with no ability to adjust the preset yearly benefit of $2 million.
BlueCross BlueShield
Blue Cross Blue Shield's (BCBS) catastrophic policies are the best in our study because they're the most cost-effective solution for jobless people who can't afford conventional health insurance.
Pros
- All 50 states have plans available.
- Provides a special plan for people under the age of 30.
- A large provider network is available.
Cons
- The 35 regional firms offer a variety of coverage alternatives.
- Deductibles are high.
Certain unemployed people, notably those under 30 years old and some low-income families, are eligible for low-cost catastrophic coverage. If you fall into the first group, BCBS' Young Adult plan, which is designed for those aged 18 to 30 who would otherwise be unable to buy insurance, may be of interest to you. BCBS is made up of 35 separate organizations across the United States, and catastrophic coverage is available under a variety of names depending on your location.
The specifics of the policies differ by area, but they all have the same catastrophic insurance characteristics: cheap premiums, large deductibles, and free access to preventative treatment, as mandated by the Affordable Care Act. Depending on the state, BCBS catastrophic policies are either HMOs or PPOs, but even if you do need to stay in-network, know that the BCBS provider network is one of the largest in the country.
Cigna
All Cigna individual health insurance plans feature free access to two of the country's leading virtual care networks, making Cigna our telehealth pick.
Pros
- Virtual care is included in almost all individual plans at no cost.
- Two prominent telehealth networks are partners.
- Insulin copays are limited at $25 per month.
- Customer assistance is available around the clock.
- Dental coverage is available for as little as $19 per month.
Cons
- Only ten states provide individual plans.
- The first day of the month is when policies must begin.
- Premiums that are higher than typical
For those who are unemployed, having access to telehealth services can be a lifeline. Virtual care saves you time and money by allowing you to receive treatment without having to travel to a doctor's office. You may also receive remote treatment for minor symptoms without having to pay for an in-person appointment. Through collaborations with MDLive and Amwell, two of the leading telemedicine providers in the United States, Cigna provides $0 telehealth sessions with all of its individual plans.
Virtual health appointments aren't the only benefit of buying Cigna health insurance. In-house customer support is ready to answer inquiries and give assistance 24 hours a day, seven days a week. In addition, whatever of your coverage level, the firm imposes a $25 monthly out-of-pocket expense limit for insulin.
Cigna offers individual and family coverage in only ten states, although dental insurance may be obtained elsewhere in the United States for as low as $19 per month. While health insurance prices are determined by a variety of factors, we found Cigna to be somewhat more expensive than its competitors when comparing sample quotations.
Oscar
Oscar provides the finest value for money when it comes to family health insurance that won't deplete your savings account while you're out of work.
Pros
- Deductibles for families are capped.
- Tax credits are available to you if you qualify.
- App for smartphones that is fully functioning
- Virtual visits and a free concierge
- It costs up to $100 per year to track your steps.
Cons
- Only 18 states are allowed to participate.
- Provider network with fewer providers
- Out-of-network care is not covered.
When you lose your job and your employer-sponsored health insurance, your dependents will lose coverage as well. Oscar provides a few cost-cutting choices for large families. If your income is less than four times the federal poverty threshold, you may be eligible for tax credits that can considerably lower your monthly premiums. Family deductibles are similarly capped; no matter how big your family is, your aggregate deductible will never be more than double the individual deductible. For these and other reasons, we chose Oscar as the best supplier for families out of all the ones we looked at.
Coverage may be purchased online or through the Oscar smartphone app, which comes with a few extra bonuses. To access virtual care, download the app or call the free concierge service, which is manned by specialists who can help you arrange visits and refill medicines. If you connect the app to your phone's step counter, you'll get a dollar for every day you reach your step target, up to $100 per year. While Oscar is fast spreading, just 18 states have coverage. You may also discover that your new insurer's provider network is less than your prior one. Except in emergencies, Oscar does not pay for out-of-network appointments, so if your existing doctor isn't listed, you'll need to find a new one.
Ambetter
Dentistry insurance may be added to most Ambetter plans for as little as $12 per month, which is a better price than any other insurer and our top pick for dental. https://www.ehealthinsurance.com/health-insurance-companies/ambetter
Pros
- Most plans provide dental care for as little as $12.
- Offers a rewards program for leading a healthy lifestyle.
- Premiums that are within your budget
- Nurse guidance is available 24 hours a day, 7 days a week
- Virtual Teledoc visits are free.
Cons
- The absence of digital tools
- Late payment penalties are severe.
- Only 25 states are allowed to participate.
Unemployed people are frequently forced to acquire separate dental insurance or skip it altogether.
In some areas, Ambetter allows you to add dental and vision coverage. The plan is ACA-compliant and available on the Marketplace. Ambetter was typically among the three cheapest insurers in our test markets.
Virtual Teledoc appointments, a 24-hour nurse advice line, and a healthy living rewards program are just a few of the perks you'll get with Ambetter in addition to low-cost dental coverage (My Health Pays). You'll be rewarded for good behaviors like getting a flu vaccine and watching informative films if you participate in the program. The incentives you earn have a monetary value that may be applied to your premiums or used to cover expenses such as utilities, rent, daycare, and other necessities.
Ambetter, like many other health insurance, only provides coverage in certain geographic areas, with 25 states now covered. With an old web portal and no mobile app, the company's digital resources are also lacking in comparison to rivals. If you do decide to sign up for a policy, be sure you can afford the premiums; the firm has a stringent late payment policy, and if you fall more than 30 days behind on your payments, your coverage will be canceled.
UnitedHealthcare
You'll never be far from the care you need thanks to UnitedHealthcare's extensive provider network.
Pros
- More than 1.3 million clinicians and 6,000 institutions are part of the network.
- A wide range of plan types is available.
- Bundling coverage can help you save money.
- For certain insurance, there is no particular enrollment time.
Cons
- Premiums that are prohibitively expensive
- Only three years' worth of coverage is accessible.
There's a high chance you won't have to worry about your existing doctor not taking your new insurance because UnitedHealthcare has a network of more than 1.3 million providers and 6,000 hospitals across the United States. UnitedHealthcare is the largest health insurance carrier in the US and offers short-term medical plans in every state, making it an easy pick for the greatest provider network in our assessment. Because UnitedHealthcare offers a network of more than 1.3 million physicians and 6,000 hospitals across the United States, there's a good possibility your current doctor will accept your new insurance.
UnitedHealthcare is the largest health insurance company in the United States, with short-term medical plans available in every state, making it an easy choice for the best provider network in our study.
If I lose my job, how can I get health insurance?
If you leave your work, there are several options for obtaining health insurance. The first is COBRA, which allows you to maintain your former employer's health coverage but is costly. You are also eligible for a special enrollment period when you leave your employment, which allows you to acquire any new insurance coverage for up to 60 days after you quit your job. Short-term health insurance is a reasonable alternative in some jurisdictions, and it may keep you covered for up to 364 days while you seek for new job.
COBRA Insurance: What Is It and Is It Worth It?
COBRA (Consolidated Omnibus Budget Reconciliation Act) is a federally regulated program that allows you to keep your employer's insurance coverage for up to 18 months. If you choose COBRA coverage, be prepared to pay much higher monthly premiums; you'll be responsible for covering the amount your employer contributed plus a 2% administrative charge. COBRA is frequently not worth it because most jobless people can acquire a far more cheap coverage on the open market.
What Is the Most Economical Health Insurance?
For someone who has just lost their work, short-term and catastrophic coverage plans are frequently the most affordable health insurance alternatives. Both, however, have disadvantages. Short-term insurance is limited to one year and is prohibited or regulated in some places. To qualify for catastrophic coverage, you must be under 30 years old or have a low income, and even if you do, the inexpensive premiums come at the price of huge deductibles.
If you don't have health insurance, what should you do?
If you don't have health insurance and require medical care, you can expect to pay the whole cost of any treatment you receive out of cash. In the event of an emergency, hospitals in the United States are prohibited by law from rejecting care based on your financial position. If you absolutely cannot afford coverage, you should check to see if you qualify for Medicaid coverage. If you don't qualify for Medicaid, you should look into buying a low-cost catastrophic coverage to protect yourself financially in the event of a terrible injury or sickness.
How Did We Pick the Best Health Insurance for Unemployed People?
Our research looked at 30 health insurers throughout the country to find the top ones based on the perks they provide to job seekers. We picked insurers with a large global footprint and flexible plans tailored to individuals with short-term insurance requirements. We severely weighted policy price by comparing quotations from five sample marketplaces since financial hardship is a major worry during periods of unemployment. Finally, we looked at care accessibility, such as the number of in-network providers and telehealth options available.