There are four categories of health plans to choose from. All metal plans are required to cover essential health benefits, but it’s important to choose a plan that you can afford and that meets your family’s health care needs.
Open enrollment is coming up in less than two weeks! Are you prepared to change your plan?
Here are a few key pieces of information you should keep in mind for the upcoming weeks.
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Are you self-employed? Looking for health insurance? You can use the Individual Health Insurance Marketplace to enroll in flexible
Health insurance is the security blanket you need in your life. At one point or another, you and your loved ones will get sick
If you’re unemployed, you may be able to get affordable health insurance through the Marketplace. You may also qualify for free or low-cost coverage through Medicaid or the Children’s Health Insurance Program (“CHIP”).
Left/Lost your job and lost insurance
If you left your job or was terminated and lost your health coverage, you qualify for the Special Enrollment Period. This means you can enroll in the Marketplace any time of the year. Usually you have 60 days from the day you lost coverage to enroll.
Medicaid and CHIP programs have no limited enrollment period therefore, if you qualify, you can enroll in these programs at any time of the year.
Coverage Options
To determine what health coverage you’re eligible for is based on your household size and income, not you employment status. When you apply for coverage from the Marketplace you will have to estimate your income for the current year.
Unemployed- how to estimate your income
Types of income source to include on your application when estimating your income:
Unemployment compensation
All household member’s income (not just yours)
Additional income including Alimony, Cash Support, Pension, Social Security, Investment, Retirement etc.
Insurance Plans
Note: All coverage qualifications are based on your income and household size.
Once you apply for the Marketplace, you will find out if you qualify for any of these three programs:
Marketplace insurance plan: you can qualify for premium tax credits and savings on deductibles, copays, and other out-of-pocket costs.
Medicaid: This program provides coverage to millions of Americans with limited incomes or disabilities. You may qualify for free or low-cost coverage.
Children’s Health Insurance Program: CHIP provides coverage to children and in some states pregnant women. This is for families with too high of an income for Medicaid but too low to afford for a private insurance.
Cosmo Insurance Agency is an independent insurance agency serving surrounding communities in New Jersey. Cosmo keeps its promise to assure an efficient and creative approach to the services we offer. Each of our clients experience a personalized and long-term relationship with us. Our New Jersey based team of health brokers guides our clients in helping them choose the most cost-effective options. By incorporating the latest in technology-based tools and laws on healthcare, employee benefits, life insurance and finance, we keep our clients up-to-date with the plans that encompass all of their needs, whether it is individual or group insurance.
More and more, health payers are insisting we patients get permission from them to undergo a medical test or treatment. Then we may be told that no
Cosmo Insurance Agency is a full-service independent insurance agency based in New Jersey that offers an all-encompassing range of insurance options for both individuals and businesses.
Disclaimer: The information on this website is for informational and educational purposes only and is not a substitute for competent insurance, legal or tax advice and you should consult with a licensed professional in your state.
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