Those who are losing their employer-sponsored health insurance benefits due to a COVID-19 (coronavirus) related job disruption have a couple alternatives to consider, according to Patrick Casale, Managing Partner of The MultiCare Group United States Division.
Casale said anyone recently laid off may still have benefits through their employer through the end of the current month. If your company has more than 20 employees, you should be offered COBRA continuation.
“This can be the best alternative for you,” Casale said.
Those enrolling in unemployment to maintain their income stream until they are called back to work can also consider COBRA as an alternative to maintain their current health plan.
Affordable Care Act (ACA) exchange programs are another option.
“You also have an opportunity to qualify to enroll into the ACA exchange programs and receive Advanced Premium Tax Credits (APTC) and potentially Cost Sharing Reductions (CSR),” Casale said.
Casale said those who have a medical condition and need to enroll in COBRA or the Health Insurance Exchange do not need to worry about pre-existing conditions.
“You will be able to maintain your medical care,” he said. “Pre-existing, by law, is no longer an issue.”
To learn more about all available options, contact Patrick Casale at The MultiCare Group at 702-369-9449, from 10 a.m. – 3 p.m. Monday through Friday.
ABOUT THE MULTICARE GROUP
The MultiCare Group has more than 25 years of experience specializing in all aspects of employee benefits. Known as “change leaders,” it is a full-service corporation made up of professionals in the areas of fully ensured programs and self-funded programs and is fully compliant with the Affordable Care Act (ACA).
For more information, visit themulticaregroup.com.