Individuals who lose their job-based coverage qualify for a Special Enrollment Period (SEP) on the Health Insurance Marketplace.
“As unemployment numbers in recent weeks dwarf the worst weeks of the Great Recession, thousands of South Carolinians are losing the job-based insurance they rely upon to get access to quality health care,” said Shelli Quenga, Palmetto Project’s Director of Programs and a licensed insurance agent.
Employees may be given the option to extend their job-based coverage by enrolling in COBRA, but employers often don’t contribute to the cost of the plan so the individual pays full price.
Plans sold in the Health Insurance Marketplace are likely to be significantly more affordable due to the financial assistance available, which 90 percent of SC’s marketplace enrollees qualify for.
These products aren’t required to comply with ACA regulations, which means they can deny coverage to consumers with pre-existing conditions, charge consumers more based on their gender, reject claims altogether for health care services related to a pre-existing condition, and impose annual coverage limits.
