![two businessmen shaking hands](https://cosmoins.com/wp-content/uploads/2020/04/peo.jpg)
5 Reasons Your Business Needs a PEO
A professional employer organization (PEO) provides comprehensive HR solutions for small and mid-size businesses. PEO’s provide a plethora of services
A professional employer organization (PEO) provides comprehensive HR solutions for small and mid-size businesses. PEO’s provide a plethora of services
It’s now the end of October and doctors are urging that you should get the flu vaccine if you haven’t already done so. “900,000 people were hospitalized in the
The world’s largest coffee chain is adding the most amazing perks for its employees. Starbucks Corporation just recently expanded its sick and parental leave policy this year.
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.
Open enrollment is coming! November 1st marks the beginnings of New Jersey’s open enrollment period. Cosmo Insurance is here to tell you what you need to do before joining a plan
Rosh Hashanah is a Jewish holiday that marks the first and second day of the Jewish year. Rosh Hashanah is a time of family gatherings
The concept of building investments sounds great on paper however, no one ever talks about how stressful and confusing
It’s easy to think, “Disability won’t happen to me.” You may consider yourself young, healthy and at the top of your game.
The House of Representatives passed two pieces of legislation that, among other things, purport to improve and “modernize” health savings accounts (“HSAs”).
It’s easy to think, “Disability won’t happen to me.” You may consider yourself young, healthy and at the top of your game.
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.
Copyright – Cosmo Insurance Agency – All Rights Reserved.