Laid Off or Between Jobs? Here’s How to Stay Covered Without Breaking the Bank

Jul 10

2 min read

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Lost your job? Don’t lose your health coverage too. Learn the difference between COBRA and ACA plans and how to stay protected during life’s transitions.

Job Gone — Now What About Your Insurance?

Losing your job is stressful enough. But losing your health insurance on top of that?That’s a crisis you can’t afford.

Most people don’t realize:

You don’t have to go uninsured, and you don’t have to overpay.

Whether you’re laid off, fired, or left voluntarily, you have options — but you have to move quickly.

Let’s walk through them.

⏳ Step 1: You Have 60 Days to Find New Coverage

Leaving a job triggers a Special Enrollment Period (SEP) — which gives you 60 days to enroll in a new health insurance plan through the ACA Marketplace.

If you miss it, you could be stuck uninsured until the next open enrollment period.

⚖️ Step 2: COBRA vs ACA — Which One Should You Choose?

Most employers offer COBRA — a way to keep your old coverage.

But here’s what they don’t tell you:

COBRA is often very expensive because you’re now paying 100% of the premium, plus a 2% admin fee.

✅ Quick Comparison:

	COBRA	ACA Plan
Same doctors & network	✅ Yes	🚫 Maybe (depends on plan)
Monthly cost	💸 High ($500–$1,500)	💰 Low (as low as $0)
Subsidies	❌ Not available	✅ Yes, based on income
Duration	⏳ 18–36 months	📆 As long as you’re eligible

Unless you need to stay with your exact doctors, ACA plans are usually way more affordable and flexible — especially if your income dropped after job loss.