How Obamacare Affects the Unemployed

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Obamacare > How Obamacare Affects the Unemployed

How Obamacare Affects the Unemployed

If you lose your job, an unwelcome result may be that you also lose your health insurance coverage. But you have a couple of ways to make sure you're not without coverage going forward.

Under Obamacare, you can go online and compare available individual policies -- and you may qualify for subsidies that can reduce your premiums.

You may also be able to keep your employer-provided health care coverage under COBRA, a federal law that lets many ex-employees continue their existing coverage for 18 months. You'll have to pay the full cost of the insurance, however; your former employer will no longer chip in.

After you leave your job, you have 60 days to choose between COBRA coverage (if it's available) and buying indiividual coverage. For more about the options where you live, select your state below.