Losing a job, regardless of age or circumstance, can be devastating. There are financial implications, but there is also the danger of losing employer health insurance. So don’t worry, there are health insurance options that suit any budget. You can obtain low-cost health insurance for unemployed through the Marketplace, with savings based on your income and household size. You may also be eligible for free or low-cost health insurance coverage through Medicaid or the Children’s Health Insurance Program (CHIP). The size and income of your household, not your job status, decide what health care you are qualified for and how much assistance you will receive in paying for coverage. This article will provide a guide on the best health insurance for the unemployed.
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Medicaid, CHIP, and insurance plans through the Marketplace
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When you fill out a Marketplace application form, you’ll know if you qualify for any of these types of coverage:
- A Marketplace insurance plan.
You can be eligible for premium tax credits and savings on deductibles, copayments, and other out-of-pocket costs based on your household size and income. Some low-income earners may end up paying extremely minimal premiums. Discover how to get a lower price on a Marketplace insurance plan.
- Medicaid
Medicaid provides coverage to millions of Americans with limited incomes and disabilities. Many states have expanded Medicaid to include all persons with incomes below a specific level. Find out more about Medicaid and how to apply for it.
- Children’s Health Insurance Program (CHIP).
CHIP provides coverage for children and pregnant women in families with incomes too high for Medicaid but too low to afford commercial insurance in some states.
While you are without employer-sponsored health insurance, Marketplace health insurance protects you against unexpected medical bills. Given that approximately 35% of adults do not have the savings to handle an unexpected $400 bill, it is a prudent investment. In the next section, we will review the top 5 best health insurance for unemployed. They were ranked based on pricing, coverage, availability, and limits to help you understand your alternatives. Continue reading to find out the best health insurance solutions for unemployed people.
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Best Health Insurance For Unemployed
United Healthcare
United Healthcare is the top choice for unemployed health insurance. It has an extensive network, an outstanding selection of extra benefits, and a flexible TriTerm policy that allows up to three years of short-term coverage. Here are some of their pros
- Great reputation
- System for online quotations and purchases
- Broad provider network
- App for smartphones that combines medical records
- Alternatives that do not require special enrollment periods
- Other health and wellbeing advantages.
UHC is a health insurance behemoth, covering nearly 1.3 million doctors and 6,500 hospitals in the United States. UHC has an A grade for financial stability from AM Best, as well as an unrivaled selection of benefits and a large range of plans. In addition to short-term policies, policies are offered for individual health insurance, group options, dental, and vision. They also provide Medigap, Medicaid, Medicare Advantage, and prescription medication coverage to individuals who qualify.
Molina Healthcare
This the best choice for families because of their plethora of child and family-friendly alternatives to help you save money, as well as a family deductible cap.
- Prenatal care and pediatric benefits
- Wellness and preventative care benefits
- Some plans collaborate with federal programs such as Medi-Cal, Medicaid, and Medicare.
- Family deductibles are limited.
- Tax credits are available to those who qualify.
Molina provides individual and family health insurance through Medicaid, Medicare, and the Marketplace. If your income is between 138% and 400% of the federal poverty level, you can use tax credits for Molina plans to lower monthly premiums. Wellness and preventative health treatments, as well as child and adolescent vaccinations, pediatric preventative healthcare, and prenatal care, are all available at Molina.
Sidecar Health Access health insurance for unemployed
Sidecar Health Access Plan is the best for budget ranking. This is because you can customize their flexible, low-cost policies. Also, you’re not tied into a commitment, and you can save up to 40% over traditional health insurance.
- Economical premiums
- Enroll at any time
- Freedom to see any provider
- Price comparison tool
- Options to tailor cover precisely to your needs
It’s understandable if Sidecar Health does not come to mind when considering health insurance companies. This market newcomer debuted in 2018 with enormous intentions to revolutionize the face of health insurance. The Sidecar Health model is entirely different from traditional health insurance and could save you 40% on healthcare costs, making it one of the best budget selections. They offer three plans: Budget, Standard, and Premium with an option to customize any plan.
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Pivot health insurance
Pivot is one of the best short-term health insurance for unemployed because they allow you to customize your quotation. They offer different price points and provide discounts on vision care and prescription drugs.
- Round-the-clock access to telemedicine
- Discount programs
- Optional prescription coverage
Regrettably, most people have no idea how long they will be unemployed. Pivot is a good short-term health insurance selection because of its various policy lengths, competitive cost, and discounts. Pivot Health, a relative newcomer to the insurance market, debuted in 2016 and expanded its short-term insurance plan from 90 days to 364 days in 2018. These plans are now also renewable for up to three years.
Kaiser Permanente health insurance for unemployed
Kaiser Permanente is one of the best because they provide high-quality health insurance policies, the opportunity to add a Health Savings Account (HSA), and the convenience of an integrated health system.
- The quotation and application process can be streamlined.
- Excellent client satisfaction ratings
- Insurance and healthcare in one package
- App for the technologically savvy
- The Centers for Medicare and Medicaid Services gave it a 5/5 rating.
- Free preventative care, such as routine physicals and mammograms, is a significant benefit of Kaiser plans. Exclusions, like with other health insurance plans, include cosmetic operations, acupuncture, and dental care.
