The U.S. Census Bureau reports that in 2011, more young adults gained coverage from a provision of the Affordable Care Act (popularly called “Obamacare”) that allowed them to stay on their parents policies until age 26. The law passed on March 23, 2010. For those between 26 and 64, the statistics on the number of uninsured was flat.
(Keep in mind that these statistics were compiled before 2014, when most of the major provisions of Obamacare kicked in. So many more people are now likely covered).
THEY WANT YOU TO HAVE INSURANCE
Fortunately, there are healthcare insurance protections in place. And even if you are switching jobs, you are covered during the transition period.
A law called COBRA is largely responsible for the continuing coverage. COBRA is an acronym that stands for the Consolidated Omnibus Budget Reconciliation Act of 1985, a law passed by Congress that mandates an insurance program giving some employees the ability to continue health insurance coverage after leaving employment.
COBRA allows you to keep your existing health insurance within an 18-month period of leaving your job. The downside is COBRA typically has higher premiums than group insurance.
You will typically lose insurance coverage by the end of the month when you leave a job where you are enrolled in a group plan. That means you have to immediately get on COBRA, or find individual health insurance you can afford.