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Instead of paying monthly premiums to insurance company, Scoop health helps you to contribute to a shareable account through medical cost sharing insurance. To learn more visit our website now at https://www.scoophealth.com/
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Introduction • If you’ve been let go from your job or lost your health benefits, here are your options for health insurance and some affordable alternatives too. • You are either part of the 12 million people who lost a job due to COVID-19, or you know someone who did. It’s scary to lose your job under normal conditions. Even worse is losing your job and health benefits at the start of a global health crisis. It may seem hopeless, but you have a few options to get some health protection in place for you and your family.
COBRA • Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA). • If you had employer-sponsored health insurance before getting laid-off you can keep it up to 18 months under a federal employment law known as COBRA. Unfortunately, your former employer is not obligated to pay your monthly premiums. You have to pay the premiums. Most individuals have sticker-shock when they see the real cost of COBRA without the employer paying part. Then most everybody goes on a search for COBRA alternatives.
HEALTHCARE.GOV • Another option to get health insurance after a layoff or furlough is the government website known as the National Healthcare Exchange. • Federal employment law allows you 60 days to sign-up for alternate health insurance after losing your job. If you miss the window, you have to wait until annual open enrollment in November. • If you can show that your income is below a certain amount you could qualify for a premium subsidy from the government. If your income is too low to even afford the exchange options you should consider contacting Medicaid.
SUPPLEMENTAL INSURANCE • There are other health insurance options that offer financial protection against certain health expenses. Supplemental insurance won’t pay the entire cost of a medical episode, but it can help. • This kind of insurance is meant to help with your regular household expenses if you are sick or injured and can’t work. These so-called ‘fixed-benefit’ plans can also be purchased to cover specific things like: accidents, cancer, critical illness and even dental. • They pay you a fixed amount in cash if you have a covered incident. There are many insurance companies writing fixed benefit policies like Aflac, Aetna, and Cigna just to name a few. Premiums for supplemental insurance are substantially less than health insurance because the coverage is so limited.
MEDICAL COST SHARING • For over 35 years this option has been available to the Christian community. But when the Affordable Care Act passed Medical Cost Sharing was expanded to offer access to people and businesses regardless of their faith. • Instead of counting on an insurance company for coverage, medical cost sharing members rely on a healthy like-minded community to share their medical expenses. • Companies like Scoop Health have medical cost sharing options for individuals and families who want an affordable alternative to health insurance or COBRA coverage, and they provide an alternative to the faith-based community medical cost sharing programs. Monthly rates are usually 30-50% below health insurance.
