Question
What happens to my health insurance when I leave my job?
Short answer
Your job-based plan usually ends on your last day or at the end of that month. You can then keep it through COBRA at the full price, or pick a new plan on the Marketplace within 60 days.
When the coverage ends
Ask HR for the exact date. Many plans end on your last day of work, others at the end of that month. Book appointments and refill prescriptions before then if you can.
Your options
- COBRA: keep the same plan, usually for up to 18 months, but you pay the full premium plus a small fee, often several times what you paid as an employee. You have 60 days to sign up, and coverage is backdated to the day the old plan ended. It applies to employers with 20 or more staff; many states have similar rules for smaller ones.
- A marketplace plan: losing job-based coverage opens a special enrollment period of 60 days. With a lower income, help with premiums can make this much cheaper than COBRA.
- A spouse's or partner's plan: losing your coverage usually lets you join their employer plan mid-year, typically within 30 days.
- Medicaid: if your income drops low enough, you can apply any time.
Watch the gap
Compare COBRA's price with a Marketplace plan before the 60 days run out. Missing both windows can leave you uninsured until the next open enrollment.
This is general information about how US policies usually work. Your own policy's wording and your state's rules decide the details.