You Have 60 Days — Here's What to Do
When you lose employer-sponsored health insurance, you automatically qualify for a Special Enrollment Period (SEP) on the ACA marketplace. You have 60 days from your last day of coverage to enroll in a new plan. This is true regardless of when Open Enrollment is.
Don't default to COBRA. COBRA lets you keep your employer plan, but you pay the FULL premium — often $500–$700/month for an individual. Most people find ACA marketplace plans for $0–$150/month with subsidies. Always compare before choosing COBRA.
COBRA vs. ACA Marketplace: The Real Math
Most people choose COBRA out of habit without checking the marketplace. Here's what the numbers actually look like:
- COBRA: $500–$700/month (individual), no subsidies, same plan you had at work
- ACA Silver plan: $0–$150/month with subsidies, $10,600 annual out-of-pocket cap
- ACA Bronze plan: $0–$50/month with subsidies, higher deductible but lowest premiums
- Private plan (off-marketplace): $300–$800/month, same ACA-compliant coverage purchased directly from a carrier or broker, no subsidies
If your annual income will drop below ~$60,000 (individual) while unemployed, you almost certainly qualify for subsidies that make marketplace plans far cheaper than COBRA.
Pro tip: You can start COBRA and switch to a marketplace plan later — but NOT the other way around. If you enroll in a marketplace plan, you can't go back to COBRA. Check both options before deciding.
What You Need to Enroll
- Your last day of employer coverage (triggers the 60-day window)
- Estimated annual income for the current year
- Social Security numbers for everyone who needs coverage
- Your employer's COBRA notice (if received) for comparison
What If You Can't Afford Any Coverage?
If your income has dropped significantly, you may qualify for Medicaid (free coverage) in states that have expanded it. If your income is very low and you're in a non-expansion state, short-term health insurance ($50–$200/month) can provide temporary protection while you get back on your feet.
Key Numbers for Job Loss Coverage
Last updated: March 30, 2026.
