You have 60 days
Losing job-based health coverage is a qualifying life event. It usually opens a Special Enrollment Period, giving you 60 days to enroll in a Marketplace plan. You can also apply up to 60 days before your coverage ends, so the new plan starts right when the old one stops.
COBRA or a Marketplace plan?
COBRA lets you keep your employer's plan, usually for up to 18 months. The main consideration is cost: you typically pay the full premium, including the part your employer used to pay, plus a small administrative fee.
| COBRA | Marketplace plan | |
|---|---|---|
| Doctors and network | Stay exactly the same | Depends on the plan you choose |
| Monthly cost | Often high, full premium | May be lower with income-based savings |
| Deductible progress | Carries over for the year | Starts over on the new plan |
What Davis does
- Prices your COBRA option against the Marketplace plans in your county.
- Checks whether your expected income qualifies for savings.
- Times the new plan to start when your old coverage ends.
Common questions
When should I start looking?
As soon as you know your coverage is ending. You can apply up to 60 days before it ends.
My income dropped after losing my job. Does that help?
Marketplace savings are based on expected income for the year, so a lower income may mean more help with your premium.
I'm turning 26 and leaving my parent's plan. Does this apply?
Yes. Losing coverage on a parent's plan is also a qualifying life event.
