White Mountain Financial

COBRA and State Continuation: staying on your old job’s plan

When your employer coverage ends, you may have the option to stay on the same plan for a limited time through COBRA or a similar state continuation law. Your employer or COBRA administrator will send you letters that explain whether this is available, how long it can last, what it costs, and what deadlines you need to meet to enroll.

Buying an individual health plan directly from an insurance company

Some people choose to buy their own health insurance directly from an insurance company instead of using COBRA or the Marketplace. These are often called “off‑exchange” plans, and they can be a good fit for people who want to compare different networks and benefits on their own.

Marketplace health plans (on‑exchange) and possible financial help

You may also be able to buy coverage through the Health Insurance Marketplace. Marketplace plans are “on‑exchange” options, and depending on your household income, you might qualify for financial help with your monthly premium or out‑of‑pocket costs.

Medicaid: low‑cost or no‑cost coverage based on income

If your income is lower after your job changes, you may qualify for Medicaid in your state. Medicaid can offer low‑cost or no‑cost coverage for people who meet income and other eligibility rules. The best place to check is your state’s Medicaid website, where you can review who qualifies and how to apply.

Medicare options if you are 65 or have certain disabilities

If you are 65 or older, or have certain disabilities, Medicare may also be part of your coverage options when employer insurance ends. Medicare has different parts (such as hospital, medical, and prescription drug coverage), and it’s important to understand how those pieces fit with any other coverage you may have.

Joining a spouse’s or family member’s employer health plan

Losing your own employer coverage is often a “qualifying event” that lets you join a spouse’s or family member’s employer health plan mid‑year. If this is an option for you, it’s important to contact their employer or HR department quickly, because there is usually a limited window of time to enroll. They can explain what plans are available, what the costs are, and what deadlines you need to meet.

Helpful resources to explore your options

Our goal is to give you simple tools to understand your health coverage options. Below you’ll find links to learn more about Marketplace plans, individual plans you can buy directly from insurance companies, Medicaid, Medicare, and other resources. We’ve also included an income calculator that can help you estimate whether you might qualify for savings on Marketplace plans, so you have a better sense of what your costs could look like before you apply.

Benefits. Simplified.

Health Coverage After Employment