Has The Pandemic Made You Consider A Job Change?

Health Plans of NC Staff
Coworkers

Has the pandemic made you rethink your priorities?

Are you considering a job change or possibly working for yourself? Health insurance benefits and your cost share could play a large role in your decision. Here is what you need to know.

How will a job change impact your health insurance coverage?

Due to the pandemic, people are rethinking their roles in the workplace. Many are leaving their jobs in search of more money, more flexibility, and less of a commute since the pandemic had them working remotely. With employees being asked to come back in to an office environment, a job change may be on their minds. If you decide it’s time to leave your current job, expect to lose your employer sponsored coverage. If you become self-employed or your new employer does not offer benefits, consider all your options to secure coverage at a price you can afford.

Coverage options may include:

  • COBRA

  • Your spouse’s health insurance

  • Retiree health insurance benefits

  • Health Insurance Marketplace coverage with a subsidy

  • Private insurance without a subsidy

  • Short Term plans

  • Medicare (65 and older)

A licensed agent can help you compare your plan options to get the best coverage for your budget and time frame.

How do I know which option is best for me?

Depending on your income, subsidies may be available and can provide significant savings through the Health Insurance Marketplace. Due to the American Rescue Plan Act of 2021, premium tax credit subsidies were increased and extended to higher-income people who did not previously qualify.

If you are offered coverage through a spouse’s plan, you will likely not be eligible for the subsidy. In this case, compare your COBRA benefits with your spouse’s plan and private insurance plans. Other than premium costs, look at the differences in copays, deductibles and out of pocket maximums.

If you are healthy and other health insurance seems too costly, then you may choose to enroll in short term health coverage (Gap Coverage), especially if you will be eligible for your new employer’s benefits soon or you are close to age 65. However, short term health plans do not provide minimum essential benefits as required by the Affordable Care Act, pre-existing conditions are normally not covered, and you can be turned down based on your health history.

If you are eligible for Medicare and have not signed up, now is the time to do it through a special enrollment period. Discuss this with your current benefits manager. Since Medicare only covers about 80% of medical costs, you will need additional coverage from a private company.

Want to learn more about how you can switch jobs and maintain your health insurance? Reach out to the Health Plans agent on this webpage or click the button below.

Related Articles

People with a big pride flag in a street
Health

Bringing Your True Self To Work

Bringing your whole and best self to work is an aspirational goal for some. But for others, it’s a daunting challenge. According to a study by the Human Rights Campaign in 2014, 53 percent of the LGBTQ community concealed their sexuality at work and 35 percent lie about their personal lives.

At BCBSNC, we believe diversity in business matters for North Carolina and beyond and we’re committed to providing a welcoming, diverse and inclusive workplace for all employees. We partner with several organizations to support equality and offer an Employee Network (Spectrum) for lesbian, gay, bisexual and transgender employees and their allies.
HealthPlans of NC

Lydia Freeman

Woman on a Zoom call
Health

Five Tips To ROCK Your Virtual Interview!

Getting ready for an interview when things were “normal” was stressful enough. What do I wear? Where will I park? What questions will they ask? Adding a global pandemic and video interview to the mix adds a whole other layer of anxiety to an already nerve-wracking situation. How’s my lighting? Is my background OK? Will my dog bark?
We get it, and we’re right there with you. Ninety-eight percent of our workforce is working remotely and will be for at least the rest of 2020. So, chances are your interviewer is probably hoping their child doesn’t pop in the frame during your interview, too.
Putting your best foot forward virtually doesn’t have to be as stress-inducing when you’re prepared for the big day. To help ease your nerves, get ready for your video interview with these five tips:
HealthPlans of NC

Mary Page Troxler

Three coworkers with laptops sitting together at a long table
Health

How A Job Change Can Impact Your Health Insurance

Are you considering a job change or thinking about becoming self-employed? If so, it’s essential to consider the impact this change could have on your health insurance, including your coverage and costs. Here’s what you need to know about how a job change could impact your NC health insurance.
HealthPlans of NC

Health Plans of NC, Kelly Quinn

Ready to get started?
Get a free quote today.
Get Started