Leaving underemployed job with benefits for grad school. [Question - Insurance]

[david143]

I’m currently enrolled as a full-time student at the Craig Newmark Graduate School of Journalism for Fall 2020. I currently have excellent Empire Blue Cross/Blue Shield coverage through my job as a teaching assistant. Once I leave, I will not have health insurance unless I pay the astronomical amount for KOBRA. Newmark J-School doesn’t currently offer its student’s health insurance.

I’ve gotten a lot of advice that I would qualify for Medicaid. However, I only made $23, 707 last year according to my 1040 and will have made roughly half of that once I resign this year. This would put me above the bracket for Medicaid. After doing research through NYS Marketplace, I learned about the NYS Essential Plan that I feel like I’d qualify for. When I reached out to healthcare.gov and the NYS Health site to talk about options, they said that they would only be able to see what I qualify for once I lose coverage.

Does anybody have any suggestions or know about qualifications for the NYS Essential Plan?

 

[resjudicata]

@david143 COBRA*

Doing a google search shows me the max income for an individual is $24,120 for the NY Essentials plan. This fact sheet also provides additional eligibilty criteria and goes over various coverages for the plan.

 

[dan2255]

@resjudicata Consolidated Omnibus Budget Reconciliation Act of 1985

The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) is a law passed by the U.S. Congress on a reconciliation basis and signed by President Ronald Reagan that, among other things, mandates an insurance program which gives some employees the ability to continue health insurance coverage after leaving employment. COBRA includes amendments to the Employee Retirement Income Security Act of 1974 (ERISA). The law deals with a great variety of subjects, such as tobacco price supports, railroads, private pension plans, emergency department treatment, disability insurance, and the postal service, but it is perhaps best known for Title X, which amends the Internal Revenue Code and the Public Health Service Act to deny income tax deductions to employers (generally those with 20 or more full-time equivalent employees) for contributions to a group health plan unless such plan meets certain continuing coverage requirements. The violation for failing to meet those criteria was subsequently changed to an excise tax.

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