Maurie Backman | USA Today | Apr 15th, 2021
Category: Financial News
Losing a job doesn't just mean saying goodbye to a paycheck. It often means losing health insurance. Though not all employers provide subsidized health insurance to their staff, many do, so getting laid off can deal that extra financial blow to workers on unemployment.
But those who lose their health insurance by getting laid off have options – they can either apply for an Affordable Care Act (ACA) plan through a special enrollment period (one that opens when you lose your job). Or they can keep their old employer coverage through COBRA (Consolidated Omnibus Budget Reconciliation Act).