1. COBRA – Keep Your Employer Insurance (Temporarily)

COBRA allows you to keep your exact job-based health plan for a specified time after leaving your job. Those who qualify must have had health insurance through their employer previously, and experienced a qualified event resulting in a loss of eligibility.

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Key points:

• You pay 100% of the premium, plus a 2% fee
• Same doctors, same network
• Coverage can last 18 to 36 months depending on circumstances
• You must elect COBRA within 60 days of losing your coverage

Best for:

• Short-term option while transitioning to a new job
• People who want to keep their current doctors and medications
• Those who can afford higher premiums temporarily

2. Medicare – For Those 65+ or with Disabilities

Medicare is a Federal health insurance program for people 65 or older, or younger individuals with certain qualified disabilities or conditions.

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Key points:

• Coverage includes hospital (Part A), medical (Part B), and optional drug coverage (Part D)
• Sign up during Special Enrollment after losing job-based coverage
• Premiums vary based on income

Best for:

• Individuals nearing or over age 65
• Those on Social Security Disability

3. Medicaid – Free or Low-Cost Based on Income

Medicaid is a  joint federal/state program offering free or low-cost health insurance based on income. Your family size and state can also impact program eligibility.

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Key points:

• Apply anytime (no enrollment window)
• Most services are free or very low-cost
• Eligibility varies by state – check your state’s Medicaid site

Best for:

• People with limited income or savings
• Families, pregnant people, or individuals with disabilities

4. Marketplace (HealthCare.gov) – Affordable Plans with Subsidies

The Health Insurance Marketplace offers private plans, often with financial help to lower costs. These plans are available to US citizens who aren’t already eligible for Medicaid, Medicare, or affordable employer coverage.

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Key points:

• Special Enrollment available after job loss (within 60 days)
• You may qualify for premium subsidies and cost-sharing reductions
• Choose from Bronze, Silver, Gold, and Platinum plans

Best for:

• Anyone not covered elsewhere
• People looking for a balance between cost and coverage
• Self-employed or freelancers after job loss