If I Know I’m Going to Lose Coverage, Should I Get an ObamaCare Plan?
I am wondering if I am able to apply for ObamaCare if I currently have insurance. I am looking to leave my job in the near future (within the next month maximum) and will therefore lose my insurance coverage. I have a diagnosed mental health condition and therefore need insurance to cover my medications.
Am I allowed to apply now? Or will I have to wait and use COBRA or some other (more expensive) insurance once my insurance ends?
If you know you are going to lose coverage for any other reason then non-payment, you can simply wait until you lose coverage to enroll. If it's during open enrollment then just enroll in another plan when that one ends. If it is outside of open enrollment losing most coverage (including employer coverage) triggers an 120 Special Enrollment Period that starts 60 days before you lose coverage. You can use this period to make sure you have a new plan that starts when the old one ends. Make sure not to leave a "coverage gap".