There isn’t one person on this planet that hasn’t been affected by the Coronavirus. Unemployment reached a sobering 30 million cases since the middle of March just today.
Losing a job will give you the opportunity to be eligible for a Special Enrollment Period to get health insurance should you need to do so.
But what about those who haven’t lost their job? What about those who are still working, but their hours have been cut?
If you have health insurance coverage through your employer and your hours have been cut, insurance companies are allowing you to stay on that plan. This applies to employees that have been furloughed which means that they have been placed on a temporary leave of absence as a result of Covid-19. At the current time, this will be allowed until July 1, 2020 or at the end of a declared public health emergency whichever happens first.
If you are in an industry that doesn’t supply health insurance such as real estate, cosmetology or self employed individuals and you get your health insurance through the Marketplace, there are steps you can take to see if you qualify for a subsidy which can reduce your health insurance premium.
It would be worthwhile to update your application on Healthcare.gov by logging on to your account, select your 2020 application, and then click on Report a Life Change. That change would be the change of income.
You will have to update the income which will in turn possibly help you save money on your health insurance plan. You may be asked to supply proof of the change of income to become eligible for a subsidy.
At Balanced Care, we will always believe that you are your best advocate. Whether it’s your health or the way you provide for your family, we all have to take necessary steps to protect ourselves more so now then ever.
We want you to know that we see you, we hear you, and we will always support you.
Terri Trepanier is the owner of Balanced Care Health and Supplemental Insurance and a licensed insurance consultant and broker with Associated Brokers. Licensed in both Maine and NH, her specialty is working with small businesses, individuals, and families with their health and life insurance needs. She is certified to offer health plans both on and off the exchange and is contracted with every health insurance company that offers plans in both New Hampshire and Maine. Her other passion is assisting Medicare beneficiaries with their Medicare Supplemental, Medicare Part D Prescription Drug Plans, and Medicare Advantage plans. Terri has seen firsthand the importance of insurancCare is to “Insure Security and Peace of Mind One Family at a Time”.