When a layoff happens, what’s the best move to keep medical coverage? Is it to go with COBRA, explore marketplace options, or check Medicaid eligibility? What’s the most affordable and practical option while between jobs?
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Keep COBRA until the 6 month period expires. You’ll see that the rates for months 7 thru 18 will be similar or more than private insurance such as Blue Cross. Healthcare.gov (Obamacare) will be the least expensive. It’s based on your expected income and since you’ll be applying in 2025 with this year’s (2024) income behind you then it should be cheapest option.
The health care coverage is expensive to pay w unemployment, just like pre unemployment. Stingy company.
COBRA is your best option.
When laid off I received the same medical/dental/vision for up to 6 months at same cost as I was paying while at Fiserv. By then you should have another job that has benefits and cancel Cobra coverage.
I kept COBRA vision and dental are hard to come by on the marketplace. Not to mention marketplace is based on your income. You have to be unemployed for a while for it to be an option. I ended up moving to market place after COBRA ended. Old enough to wait now until medicare. Good luck yes it stinks.