When you lose your job, concerns about health care coverage are almost always at the top of the list of worries. If you also lost your employer-sponsored health insurance plan, BeWell is ready to help you make the best choices for your family during this time of upheaval. Our certified assisters have the answers and expertise you need to avoid gaps in coverage.
There is some good news, losing your job is considered a “qualifying life event.” That means you’re eligible for a special enrollment period, and you have 60 days to sign up for another health care plan.
The options for alternative health care coverage typically include:
- COBRA: Most employers are required to offer temporary coverage through this option, which is named for the federal law that created it: Consolidated Omnibus Budget Reconciliation Act. It allows you to keep your current health plan, but you are responsible for paying the full price—which can be steep.
- Your spouse’s employer-sponsored plan: Special enrollment periods may allow your spouse to add you as a dependent on their existing plan or enroll in new coverage through their employer.
- Affordable plans through BeWell: New Mexicans who qualify have access to affordable, high-quality plans from trusted carriers.
Estimating Your Income After a Job Loss
Marketplace plans through BeWell are based on your expected household income for the current calendar year – not the annual income you earned and reported on your tax return.
There’s no easy calculator to determine estimated income, and we know it’s confusing. But don’t worry—BeWell’s Certified Assisters are experts in every step of the insurance enrollment process. We’ll work with you one-on-one to complete your application with the correct data – and we’ll be here if your situation changes.
BeWell Is Ready to Help
BeWell is the only place in New Mexico where you can get free local help and access to low-cost or no-cost insurance. Have questions? Call 833-862-3935 to talk with a BeWell certified assister. Need a hand? Get free help to set up your account!
