Health plan resources during current workforce changes

During these uncertain times, some businesses are having to make the tough call of reducing their workforce, temporarily laying off employees or making other changes to business operations. Individuals may need to look for new health insurance or may be wondering if they have enough coverage.

As your advocate, we developed a quick guide to help employers and employees understand health insurance options through Mylo’s national partner GoHealth, the federal marketplace or a state exchange.

Individuals leaving a group health plan can:

  • Continue their current coverage by paying for it themselves through COBRA if the business remains open and is able to offer this option.

  • Explore options with Mylo’s partner GoHealth. Dedicated health advisors can help them understand their options, including major medical, indemnity-based plans and ancillary benefits. Options vary by state. Individuals in California, Colorado, Connecticut, Idaho, Maryland, Massachusetts, Minnesota, Nevada, New York, Rhode Island, Vermont, Washington or the District of Columbia should contact their state exchange instead.

  • Enroll in coverage through the federal marketplace or a state exchange if they live in California, Colorado, Connecticut, Idaho, Maryland, Massachusetts, Minnesota, Nevada, New York, Rhode Island, Vermont, Washington or the District of Columbia.

Loss of group insurance is a Qualifying Life Event that enables these individuals to enroll in coverage outside of Open Enrollment. They may be eligible for a federal health insurance subsidy and receive a tax credit based on their projected 2020 income and other factors.

Uninsured or underinsured individuals can:

  • Enroll through a state exchange that has created an extra Open Enrollment period to meet the needs of the uninsured or underinsured. They must live in California, Colorado, Connecticut, Maryland, Massachusetts, Minnesota, Nevada, New York, Rhode Island, Vermont, Washington or the District of Columbia.

They may be eligible for a federal health insurance subsidy and receive a tax credit based on their projected 2020 income and other factors.

Both groups can enroll in:

  • Medicaid or CHIP (Children’s Health Insurance Program). Qualifications vary by state, income and family status

  • A short-term medical plan through Mylo’s partner GoHealth. Covers unexpected accidents and illnesses for up to 364 days and is renewable for up to 36 months depending on the state

  • A fixed indemnity plan through Mylo’s partner GoHealth. Pays a set amount of money for approved medical expenses

NOTE: Short-term medical and fixed indemnity plans typically require answering underwriting questions, do not cover pre-existing conditions and have benefit limits and policy maximums. Individuals should choose coverage based on their personal circumstances and benefits preferences.

We know many people are looking for expert guidance during this time of uncertainty. Mylo is part of Lockton, the world’s largest independent insurance broker, with 50+ years of connecting people to the right coverage. We partnered with GoHealth’s national network of health insurance advisors to help you understand your options and explore solutions that make sense for you.

Give the dedicated COVID-19 response team a call at (888) 805-1371.

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