The lack of comprehensive coverage of short-term plans means that they are often cheaper than other types of health insurance. So while your regular health insurance policy may be valid for 12 months, a long-term health plan keeps you covered for 2 or 3 years. Former employees can maintain health insurance coverage through COBRA, but there is one vital caveat: you are responsible for all health plan costs. Leaving your job and losing your employer's health coverage entitles you to a special enrollment period through the marketplace.
However, the employer must allow you access to your health insurance plan for at least 18 months after termination through COBRA. Employers set the guidelines for when employer-sponsored health coverage ends once you quit or are fired. You can get employer-based insurance even if you apply outside of the annual health insurance open enrollment period, since a new job is a "qualifying life event that allows you to immediately purchase major medical insurance". Now that you are enrolled, we will send you reminders of the deadlines, as well as advice on how to enrol, stay enrolled and make the most of your health insurance.
If you are laid off, this would be a qualifying event and you will qualify for special enrollment for an Affordable Care Act health care policy. If you are married, you may be able to enrol in your spouse's employer-sponsored health insurance. Loss of health insurance coverage from work is a qualifying event that makes you eligible for a special enrolment period that generally lasts up to 60 days after the triggering event (such as quitting your job). After termination, it is your employer who determines how long you can continue employer-sponsored health insurance coverage.
If you choose to go on COBRA (which is a health care continuation law), you will have to pay ALL of the premium that your employer may have previously paid PLUS an administrative cost (total 102 e premium).