Improving Awareness of Health Coverage Options Act of 2022 This bill modifies the notification requirements with respect to eligibility for certain health coverage options due to a qualifying event (e.g., loss of coverage due to termination of employment). For example, a health insurance plan must provide a clear explanation that an individual who is eligible for COBRA (Consolidated Omnibus Budget Reconciliation Act) continuation coverage may be eligible to enroll instead, with financial assistance, in a qualified health plan offered through a health insurance exchange.