Losing employer health coverage — whether you quit, were laid off, or had your hours cut — is stressful, but it's also a qualifying life event that gives you several ways to get covered quickly. The key is knowing your options before your current plan ends.
Your three main paths
- COBRA — keep your old plan, but pay the full premium yourself
- Marketplace — a Special Enrollment Period typically opens for 60 days
- Private PPO — enroll right away, year-round, with a broad network
The case for each
COBRA is the simplest if you want to keep your exact plan and you're mid-treatment. The Marketplace is strong if your new (likely lower) income qualifies you for subsidies. A private PPO is often the most flexible and can be the most affordable for healthy applicants who don't get large subsidies.
Avoiding a coverage gap
The biggest risk is going uninsured while you decide. Coverage gaps leave you exposed to full-price medical bills. Lining up new coverage to start the day your employer plan ends keeps you protected and avoids surprises.
Timing your switch
Note when your employer coverage actually ends — sometimes it's your last day, sometimes the end of that month. Your advisor can time your new plan's start date so there's no overlap you pay twice for and no gap that leaves you exposed.
Compare before you commit
COBRA is convenient but rarely the cheapest. Comparing it against a private PPO and Marketplace options often reveals real savings — and a licensed advisor can run that comparison for you for free.
