Blog Comments

The Consolidated Omnibus Budget Reconciliation Act (COBRA), a law created in 1986, gives workers (and members of their family) who lose their health insurance benefits the right continue their group
health insurance for a limited period of time under circumstances such as voluntary or involuntary job loss, reduction in hours, transition between jobs, divorce, adoption and death.

Generally, the employee pays up to 102% of the premium cost for the same policy; this is still usually less expensive than buying an individual insurance policy.

There are three basic aspects for qualifying for COBRA: the qualifying event, the insurance plan
coverage and the qualified person.

Each aspect is taken into consideration when applying for COBRA and you must elect to either apply for COBRA or waive your rights to COBRA within 14 days after a qualifying event.

You must also have been in the group insurance plan during your employment to be eligible. Although there are exceptions, generally you may continue to pay your own premiums to keep COBRA coverage intact for up to 18 months.

Companies who have fewer than 20 employees, State or Federal employers or employee organizations may not offer COBRA coverage.

Check with your health insurance administrator to see if you may qualify. You may also have this information readily available in your group health insurance policy or in your company handbook.

Although it may be expensive, the cost of being able to keep your group insurance coverage rate may be well worth it.  But if you are unable to, there are many places online now where you can obtain instant health insurance quotes that will have you covered in no time.  So either way, rest assured you’ll have peace of mind once again about your health insurance.

This article’s author also writes for other sites in which you may have an interest.  They include a site about life insurance where you can request multiple term life insurance price quotes for comparison in under 5 minutes as well as a site offering homeowners insurance quotes.

Related posts:

1. Inexpensive health insurance and individual health insurance rates. What good is life if you can’t enjoy it? Health...
2. Affordable Health Insurance Coverage More Important Than Ever The struggle for affordable health care is faced by millions...
3. Residence Insurance Coverage – Making Savings By Way Of Reductions And Reduced Charges What would you say if I advised you that regardless...
4. 2009 Stimulus Bill Changes Cobra Plan for Unemployed Workers As you know employers are required to provide health insurance...
5. Auto Insurance Coverage Quotes – Helpful Ideas If You Want The Finest For Much Less The speed of car insurance coverage just continues to go...

Related posts brought to you by Yet Another Related Posts Plugin.