Any recommendations / watch outs on getting your own health insurance after being laid off? (spoiler: just got laid off)

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You should be eligible for continuation of your current healthcare (through employer) through COBRA. After that you can check out the marketplace...each state offers different plans. The marketplace is expensive but you may be eligible for subsidies if your income is below a certain threshold. Check with professional organizations you’re a member of since some offer group insurance. Good luck.

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So sorry to hear this. If you haven’t signed severance yet, I would try to negotiate a few months of them continuing to pay your healthcare. If you are in New York, everyone is also legally entitled to a certain number of days of “safe and sick leave” I believe it is called that you can ask for as well.

Regarding healthcare, you have I believe 60 days to sign up for cobra coverage, and it would cover you retroactively to your last day. The coverage would be the same as what you had at your company. You can explore marketplace options but I was surprised to learn they can often be the same price per month or potentially even more expensive. Good luck!

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When I was laid off a few years ago, COBRA for my basic health plan was nearly $800 a month. Do some investigating to see if Oscar and other exchanges offer better rates.

COBRA is under $700 for me. It’s on par with the Premiums offered in NY (Oscar and Emblem) but I get cheaper doctors office visits, better doctors, etc.

Don’t forget to remove your PayFlex contribution if you had any because it’s no longer pre-tax.

Freelancers Union offers a great snapshot to compare COBRA. It will make the decision quick and simple.

Cobra was almost $2k/month for me and my family. There are way cheaper options on the marketplace - we’re paying $900/month. HR even advised me to look into non-Cobra options.

Like any insurance, it depends on your individual circumstances. I don’t have any dependents. After researching the options COBRA is the best choice for me.

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