Up till now I've been paying for my own insurance as my employer did not offer it. I was paying $500 / Month which was not ideal but manageable while I was working ( my employer did not cover me ). I just found out I'm losing my job in 2 weeks, and I'm not going to have enough income to pay the $500. Can I change my insurance to a subsidized insurance until I am able to get insurance through an employer again? If my income goes from $60k to $0k, what do I put down for my income? Is it based on my previous income or future income?
Yes. While there are the normal annual enrollment periods, you are also granted a "special enrollment period" triggered by certain "qualifying life events." You'll typically have 60 days to make your election once you lose your prior coverage or have a different life event that would allow you to make a change.
Some common qialifying life events are:
Loss of health coverage
- Job loss
- Insurance company failure
- Losing medicaid (or similar) eligibility
- Turning age 26 (removal from parent's coverage)
- Change in home address (coverage may only apply to certain counties or zip codes, if you move out of the coverage area you get a special enrollment period)
You should go to www.healthcare.gov and see what your options are using you new expected annual income after the job loss. Good luck!