Learn how to get health coverage while unemployed
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Fact checked by Maddy SimpsonFact checked by Maddy Simpson
More than 60% of people in the United States get health insurance through their employer as of March 2023. It’s the most common way to get medical coverage. But if you’ve lost your job, you might be wondering how to get health insurance.
We’ll explain how to get health insurance without a job and what plans are available. Also, we’ll take a look at how much health insurance costs without a job so you can choose a plan that fits within your budget.
Know Your Options
If you want to buy health insurance without a job, you have a few options. Unemployed people can get medical insurance through the Health Insurance Marketplace. If you don’t meet the criteria for a Marketplace plan, you can also consider a short-term health insurance plan or apply for Medicaid.
Health Insurance Marketplace Plans
Health Insurance marketplace plans are sold through a federal or state website where you can compare plans and purchase coverage.
Important
To get a marketplace plan, you must be a non-incarcerated U.S. citizen or U.S. national living in the U.S.
Marketplace plans tend to be affordable—some individuals and families can qualify for premium tax credits that reduce their premiums. Another advantage of the Health Insurance Marketplace is that insurers can’t deny you for having pre-existing health conditions.
Although the state and federal marketplaces are a popular way to get health insurance without a job, you can only purchase coverage during certain times. Marketplace plans are sold during Open Enrollment, which happens every year from November 1 through January 15.
However, you may be able to enroll in a plan during a special enrollment period (SEP) if you lost your health insurance coverage outside of Open Enrollment. This allows you to purchase a plan within 60 days of losing coverage, anytime during the year. You can also qualify for a SEP if you recently moved states, got married, had a baby, or adopted a child.
Short-Term Health Insurance
Short-term health insurance plans are sold through private insurance companies. They typically provide coverage for one year or less—some plans offer three months or six months of coverage.
Short-term health insurance plans tend to offer less coverage and fewer benefits, so they often have lower premiums than other health insurance types.
Important
If you qualify for premium tax credits through the Health Insurance Marketplace, you can’t use them to purchase a short-term health plan.
When you apply for a short-term health insurance plan, the insurance company will ask questions about your current health and medical history. If you have any pre-existing conditions, the insurer may deny you coverage.
Additionally, some states have tight restrictions for or prohibitions of short-term health plans. As a result, you currently cannot buy plans in the following states:
CaliforniaColoradoConnecticutMassachusettsNew JerseyNew MexicoNew YorkRhode Island
Medicaid
Medicaid is a health insurance program that the federal government and individual states jointly fund. It provides free or low-cost health insurance benefits to certain groups, like Americans with low incomes and individuals with disabilities.
Medicaid eligibility is based on income requirements that vary by state. Your family information, like the number of children you have and their ages, can also impact your eligibility.
If you have children who need health insurance coverage, but your income is too high for Medicaid, consider the Children’s Health Insurance Program (CHIP). Depending on your location, CHIP may provide health benefits for pregnant women, too.
You can apply for Medicaid through the Health Insurance Marketplace or your state’s Medicaid agency.
Assess Your Needs
When you purchase health insurance through the Health Insurance Marketplace, you can choose your plan design and level of coverage. Every plan has a metal tier—bronze, silver, gold, or platinum—which corresponds to the amount of coverage you receive. Bronze plans tend to provide the least amount of coverage (60% of costs after deductible) with the lowest premiums. Platinum plans usually provide the most coverage (90% of costs after deductible) with the highest premiums.
Before you enroll in a plan, it’s important to assess your coverage needs. Here are a few recommended plan types depending on how often you need medical care.
Infrequent Medical Care
If you’re in excellent health and only want health insurance for emergencies, you might benefit from a high-deductible health plan (HDHP). An HDHP, which is typically a bronze plan, has a high deductible but low premiums—an ideal choice if you use your health insurance infrequently.
Important
In 2024, an HDHP has a deductible of $1,600 for an individual or $3,200 for a family, and an annual out-of-pocket maximum of $8,050 for an individual or $16,100 for a family.
Occasional Medical Care
If you need occasional medical care or want to pay less out-of-pocket for your routine care, a silver plan may be a good option. Silver plans have moderate premiums and pay for 70% of covered costs after deductible. A silver plan deductible is lower than a bronze plan deductible, but silver plans tend to have higher premiums.
Additionally, if you qualify for any cost-sharing reductions, you must choose a silver plan to lower your out-of-pocket costs, like your deductible, copayment, and annual maximum.
Frequent Medical Care
If you visit the doctor regularly and need continuous medical care, a gold plan might be the best choice. Gold plans have higher monthly premiums than bronze or silver plans, but you pay less out-of-pocket (20%) when you go to the doctor.
For the most coverage, look into a platinum plan—these plans have the highest premiums out of all the metal tiers, but they also have the lowest costs when you need covered medical care.
Research Health Insurance Companies
To narrow down the list of the best providers, research reputable companies and compare them to find the best insurer for your needs. Here are some ratings you should look at when comparing companies.
NAIC Complaint Index
The National Association of Insurance Commissioners (NAIC) maintains a database of insurance company complaints. Each company has an index based on the number of complaints it receives in relation to the total premiums it writes.
A company with an average number of complaints for its size has an index of 1.00. Companies with more complaints than expected have an index above 1.00, and companies with fewer complaints than expected have an index below 1.00.
Healthcare.gov Star Rating
Healthcare.gov uses star ratings to determine how good a particular health insurance plan is. Plans are given an overall quality rating between 1 (lowest) and 5 (highest) stars.
The criteria used for star ratings include member experience, medical care, and plan administration. Healthcare.gov also assigns each plan a star rating for these three individual factors.
AM Best
AM Best is a credit rating organization that issues letter grades to insurance companies based on their financial strength. Letter grades range from A++ (Superior) to D (Poor). When grading insurance companies, AM Best considers factors like balance sheet strength, operating performance, and enterprise risk management.
Insurance companies with the best financial strength scores (A- grades and above) have an excellent or superior ability to meet policyholder obligations. When selecting a health insurance company, look for insurers with A- ratings or higher.
J.D. Power
J.D. Power publishes an annual report called the “U.S. Commercial Member Health Plan Study.” The study measures customer satisfaction as reported by members of the biggest health insurance companies in various regions of the U.S.
J.D. Power’s customer satisfaction ratings are based on criteria like billing and payment, price, coverage and benefits, provider choices, and customer service. Each company in the study gets a score; aim for an insurer that scores at least above the industry average.
Best Health Insurance Companies
We selected the best health insurance companies based on cost, coverage, maximum out-of-pocket expenses, and other key factors.
Best Health Insurance Companies for Marketplace Plans
Best for robust coverage: Blue Cross Blue ShieldBest value plans: OscarHighest quality plans: Kaiser PermanenteBest for same-day care: Aetna CVS HealthBest for Medicare Advantage plans: UnitedHealthcare
Best Short-Term Health Insurance Companies
Best coverage for the price: Pivot HealthShortest waiting period: EverestBest for longest coverage: UnitedHealthcare
Compare Health Insurance Insurance Quotes
When choosing a health insurance plan, cost is one of the most important factors to consider, but other factors are key parts of your medical care, too. Here are some things to keep in mind as you compare health insurance quotes.
Out-of-Pocket Costs
Most health insurance plans have out-of-pocket costs that you pay when you receive medical care. Plans with high out-of-pocket costs have lower premiums, and vice versa.
If you choose a plan with high out-of-pocket costs, make sure you have enough cash on hand to cover your deductible, coinsurance, and copayments. Also, some lower-cost ACA plans don’t have coinsurance or copayments until you reach your deductible, which is something to keep in mind as you compare plans.
Network Size
Health insurance plans work with a network of approved doctors, specialists, and medical facilities (“in-network”).
Some plans, like PPO plans, cover your medical care when you go in-network and also provide a limited amount of coverage when you go out-of-network. Other plans, like HMO plans, only cover your medical care when you go in-network unless it’s an emergency.
If you want access to the most doctors and hospitals, you will want to choose a health plan that covers in-network and out-of-network care. However, these plans tend to be more expensive.
Coverage and Benefits
Platinum and gold marketplace health plans provide the most coverage, but they have the highest premiums. Silver and bronze plans have the lowest premiums, but they also offer the least amount of coverage.
You should also pay attention to the benefits offered. All ACA-compliant health plans provide coverage for 10 essential health benefits, which include routine doctor visits, hospital care, pregnancy, childbirth, prescriptions, pediatric dental care, and mental health services.
However, some plans provide additional benefits, like vision care and health management programs. When you compare plans on the Health Insurance Marketplace, you can see what each plan does and doesn’t cover.
Review Policy Terms and Exclusions
While ACA-compliant plans provide comprehensive coverage for many medical services, every plan has terms and exclusions.
For example, some health plans might cover alternative therapies, like acupuncture, when it’s medically necessary. However, others might not cover acupuncture at all, even when your doctor recommends it.
If you take prescription medications, you should also compare plans to see if your medications are covered. All ACA-compliant health insurance plans cover prescription drugs, but some plans might exclude coverage for specific medications or might only cover generic drugs.
Use the comparison tool on the Health Insurance Marketplace website or on your state’s health exchange site to compare plans. You can select several plans and compare the costs and benefits side-by-side.
Final Word
Being unemployed shouldn’t stop you from purchasing health insurance. If you don’t have a job, there are several ways to get health insurance, whether you choose a marketplace plan, short-term health insurance plan, or apply for Medicaid. However, the best health insurance is different for every individual, so make sure to compare several providers based on cost, coverage, and third-party ratings.
Do I Need Health Insurance if I Quit My Job?
You aren’t required to get health insurance if you quit your job. However, you will lose your health insurance coverage once you are no longer employed unless you sign up for COBRA, which typically lasts for up to 18 months. Also, you can get a new health plan through the Marketplace.
Who Qualifies for Medicaid?
Medicaid eligibility is based on your income and household information, like the number of children you have. The exact income requirements are different in every state. You can apply for Medicaid in your state to find out if you qualify for coverage.
How Much Does Healthcare Cost?
The cost of health insurance depends on factors like your location, age, and income. For a single 25-year-old female with an $80,000 salary living in Miami-Dade County, Florida, the lowest premium for a bronze health plan ranges from $289 to $303 per month. For a gold plan, the lowest premium ranges from $406 to $420 per month.
What Happens If You Can’t Afford Healthcare?
If you can’t afford health insurance, you have a few options. See if you qualify for premium tax credits through the Health Insurance Marketplace or apply for Medicaid. If you qualify for Medicaid and have a low income or no income, you might be able to get coverage for free.
Read the original article on Investopedia.
Learn how to get health coverage while unemployed
Amazon.com: Its Role in the U.S. Industry
Introduction
Amazon.com, often simply referred to as Amazon, has transformed from an online bookstore into a colossal global conglomerate that has fundamentally altered the landscape of retail, technology, and numerous other industries. Founded in 1994 by Jeff Bezos, Amazon’s rapid growth and diversification have made it a central player in the U.S. economy. Its impact is felt across various sectors, including e-commerce, logistics, cloud computing, entertainment, and even artificial intelligence. This article explores Amazon’s role in the U.S. industry, examining its influence, achievements, and the challenges it faces.
The Rise of Amazon.com
Origins and Early Growth
Amazon began as an online bookstore in Bezos’s garage in Bellevue, Washington. The vision was simple but revolutionary: to create an online platform where people could buy books. Bezos recognized the potential of the internet to disrupt traditional retail and chose books as his starting point due to their wide appeal and ease of distribution. By offering a vast selection and competitive prices, Amazon quickly gained a foothold in the market.
The company’s initial public offering (IPO) in 1997 marked the beginning of its journey toward becoming a dominant player in the U.S. and global markets. Amazon’s early success was driven by its focus on customer satisfaction, an extensive inventory, and a commitment to fast and reliable delivery. This focus laid the foundation for its expansion into other product categories and services.
Diversification and Expansion
Amazon’s diversification strategy began with the introduction of new product categories, such as electronics, toys, and apparel. This move positioned Amazon as a one-stop shop for consumers, significantly expanding its customer base. The company also introduced its marketplace platform, allowing third-party sellers to offer their products alongside Amazon’s own inventory. This not only increased the variety of products available but also created a new revenue stream for the company through commissions on sales.
One of the most significant milestones in Amazon’s diversification was the launch of Amazon Web Services (AWS) in 2006. AWS provided cloud computing services to businesses, enabling them to rent computing power and storage rather than investing in expensive infrastructure. This service quickly became a cornerstone of Amazon’s business, contributing significantly to its profitability and establishing Amazon as a leader in the tech industry.
Amazon’s Role in E-Commerce
Transforming Retail
Amazon’s impact on the retail industry cannot be overstated. It has revolutionized the way consumers shop, shifting much of retail activity from brick-and-mortar stores to online platforms. The convenience of shopping from home, coupled with Amazon’s vast selection and competitive pricing, has led to a fundamental change in consumer behavior. This shift has forced traditional retailers to adapt, leading to the rise of omnichannel strategies that integrate online and offline sales.
The concept of “one-click shopping,” patented by Amazon in 1999, further streamlined the online shopping experience. This innovation reduced the friction in the purchasing process, contributing to higher conversion rates and reinforcing Amazon’s dominance in e-commerce. Additionally, Amazon Prime, launched in 2005, offered customers free two-day shipping and other benefits for an annual fee, further solidifying customer loyalty and increasing the frequency of purchases.
Impact on Small Businesses
While Amazon has provided opportunities for small businesses through its marketplace platform, it has also posed challenges. On the one hand, small businesses gain access to a vast customer base and the logistics infrastructure that Amazon offers. On the other hand, they face intense competition, not only from other third-party sellers but also from Amazon itself. The company’s ability to undercut prices and its control over the marketplace platform have led to concerns about fairness and market power.
Moreover, Amazon’s algorithms and data-driven approach to retail have raised questions about the transparency of how products are promoted and priced on the platform. Small businesses often struggle to achieve visibility without spending on Amazon’s advertising services, which can be costly. Despite these challenges, many small businesses continue to rely on Amazon as a vital sales channel, underscoring its central role in the U.S. retail industry.
Amazon in the Logistics and Supply Chain Industry
Revolutionizing Logistics
Amazon’s impact extends beyond retail into logistics and supply chain management. To fulfill its promise of fast and reliable delivery, Amazon has invested heavily in building a sophisticated logistics network. This network includes a vast network of fulfillment centers, advanced robotics, and a growing fleet of delivery vehicles, including drones.
Amazon’s logistics capabilities have set new standards for the industry. The company has pushed the boundaries of what is possible in terms of speed and efficiency, challenging traditional logistics providers like FedEx and UPS. Amazon’s commitment to customer satisfaction has driven innovations such as same-day and even one-hour delivery in select areas, further raising consumer expectations.
In-House Logistics Services
In recent years, Amazon has taken steps to reduce its reliance on third-party logistics providers by expanding its in-house delivery capabilities. The launch of Amazon Logistics, a service that uses independent contractors to deliver packages, is a testament to this strategy. This move has enabled Amazon to exert greater control over the delivery process and reduce costs.
However, this expansion has not been without controversy. Amazon’s use of independent contractors has sparked debates about labor practices and the gig economy. Critics argue that Amazon’s business model places financial and physical burdens on its delivery drivers, who are often classified as independent contractors rather than employees. This classification exempts Amazon from providing benefits and protections typically afforded to employees, such as health insurance and minimum wage guarantees.
Amazon Web Services: The Backbone of the Internet
Dominating Cloud Computing
Amazon Web Services (AWS) has emerged as one of the most significant contributors to Amazon’s success. As the leading provider of cloud computing services, AWS powers a vast portion of the internet, supporting everything from startups to large enterprises. Its services include computing power, storage, databases, machine learning, and more.
AWS’s dominance in cloud computing has had a profound impact on the tech industry. By providing scalable and cost-effective solutions, AWS has lowered the barriers to entry for new businesses, fostering innovation and entrepreneurship. Companies no longer need to invest heavily in physical infrastructure; instead, they can rent the necessary resources on demand from AWS.
Economic Impact and Innovation
The success of AWS has not only boosted Amazon’s financial performance but also contributed to the broader U.S. economy. AWS has created jobs, driven innovation, and supported the growth of numerous tech companies. Its services have become integral to the operations of many businesses, from streaming services like Netflix to financial institutions and government agencies.
AWS’s role in advancing technologies such as artificial intelligence and machine learning has also been significant. By making these technologies accessible through cloud services, AWS has enabled companies to develop new applications and services that were previously out of reach. This has spurred growth in sectors such as healthcare, finance, and entertainment.
Amazon’s Influence on Entertainment and Media
Amazon Studios and Prime Video
Amazon’s foray into the entertainment industry began with the launch of Amazon Studios and Prime Video. These platforms have become key players in the streaming wars, competing with giants like Netflix, Disney+, and HBO Max. Amazon Studios produces original content, including critically acclaimed series like The Marvelous Mrs. Maisel and The Boys, as well as feature films.
Prime Video, available as part of the Amazon Prime membership, has become a major driver of subscriber growth. By offering a mix of original content and licensed programming, Amazon has been able to attract a diverse audience. The company’s investment in high-quality content has not only boosted its streaming service but also positioned it as a significant player in Hollywood.
Impact on the Publishing Industry
Amazon’s origins as an online bookstore continue to influence the publishing industry. The company has become the largest bookseller in the world, both in physical books and e-books. The Kindle, Amazon’s e-reader, revolutionized the way people consume books, making digital reading mainstream.
However, Amazon’s dominance in the book market has raised concerns among publishers and authors. The company’s pricing strategies and negotiation tactics have led to disputes over revenue sharing and control. Amazon’s influence over the publishing industry extends to self-publishing, where its Kindle Direct Publishing platform allows authors to bypass traditional publishers and reach readers directly. While this has democratized publishing, it has also led to an oversaturation of the market and challenges in quality control.
Challenges and Criticisms
Regulatory Scrutiny
Amazon’s immense size and influence have made it a target for regulatory scrutiny. In the U.S. and abroad, lawmakers and regulators have raised concerns about the company’s market power, labor practices, and treatment of third-party sellers. Antitrust investigations have been launched to determine whether Amazon engages in anti-competitive behavior, such as favoring its own products over those of third-party sellers on its platform.
The company’s expansion into various industries has also led to concerns about its dominance and potential to stifle competition. Critics argue that Amazon’s control over data, logistics, and retail gives it an unfair advantage, making it difficult for smaller companies to compete. In response, there have been calls for greater regulation and even the potential breakup of Amazon into smaller entities.
Labor Practices and Workers’ Rights
Amazon’s labor practices have come under intense scrutiny, particularly in its fulfillment centers and delivery network. Reports of grueling working conditions, high injury rates, and inadequate breaks have sparked widespread criticism. Workers have organized protests and strikes, demanding better pay, safer working conditions, and the right to unionize.
The company’s use of technology to monitor and manage workers has also raised ethical concerns. Amazon’s reliance on algorithms to track productivity and enforce performance targets has been criticized for creating a dehumanizing work environment. The company’s resistance to unionization efforts has further fueled debates about workers’ rights and corporate responsibility.
Environmental Impact
As one of the largest companies in the world, Amazon’s environmental impact is significant. The company’s vast logistics network and rapid delivery services contribute to carbon emissions and packaging waste. Amazon has faced criticism for its role in driving consumerism and its contribution to environmental degradation.
In response, Amazon has pledged to become more sustainable. The company launched the Climate Pledge in 2019, committing to reach net-zero carbon emissions by 2040. Amazon has also invested in renewable energy, electric delivery vehicles, and sustainable packaging. While these efforts are a step in the right direction, critics argue that more needs to be done to address the environmental impact of the company’s operations.
