Ask Terry Questions health insurance lost

health insurance lost

By Terry Savage on March 14, 2021 | Wild Card

i belong to a trade union with great insurance. unfortuneately due to me being out of work for such a time my coverage has ended. this insurance has been offered to me to keep with me paying out of pocket for it. it is too expensive for me to pay for with me still being on unemployment but i was wondering if this new cares act will help pay for part of the premium. i have looked to other avenues for coverage (obamacare) and they were still a little pricey. if this new cares act does not offer any help with my union insurance coverage does it help with the cost of any of the obamacare isurance options. thanks so much

Terry Says

It definitely helps with Obamacare insurance — premiums are lowered, and income levels have been lowered (which doesn’t help you much if you have no income!). Check at Healthcare.gov this coming week as they will be reprogrammed fastest for the new subsidies. I think that’s going to be your best bet.
COBRA is for corporate insurance, but I am not sure it will apply to union insurance. However, I will check with the IRS and come back to you if there is any different answer.

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