Since the passage of the ObamaCare bill, another decision has to be made at the time of a layoff–To COBRA or to seek care through the Health Care Exchange (federal or state)?
If you have a high deductible plan and you have met or nearly met your deductibles/our-of-pocket obligations–consider exercising your COBRA options. COBRA refers to a law that allows employees to remain on their employers health insurance program after severing employment for a limited period of time. The former employee is required to pay premiums and some administrative costs.
The Federal and State Exchanges allow individuals to purchase health insurance under the ObamaCare program. The Exchanges allow individuals to buy health insurance and to see if they qualify for subsidies or Medicaid.
Most of the coverage options have significant deductibles, so if you can not qualify for Medicaid based on income…er, lack of income then keep your coverage through your employer. Do the math carefully…