Cobra Medical Alternatives

After you are either laid off or leave your employer on your own

, they will probably offer you COBRA. COBRA medical coverage allows you to keep the group health insurance coverage that you had when you were employed.

COBRA medical coverage could be the right choice for you. However there are many circumstances where one can find better-priced coverage through an individual or family medical insurance coverage that is not connected with COBRA.

COBRA medical coverage allows you to have health insurance without any medical screening history. So long as you sign up during the election period and pay the monthly premiums on time you will be able to keep your insurance regardless of your health history.

COBRA is only offered if you were enrolled in the group medical insurance policy at the time of your termination. If you were terminated for gross misconduct, your employer does not have to offer COBRA to you. If your employer has fewer than 20 employees COBRA Insurance is not mandatory.

COBRA health insurance is temporary. In most situations a former employee can only keep coverage for 18 months. In certain situations, you can keep COBRA medical coverage for up to 36 months.

There are several circumstances that can cause you to lose your right to COBRA before your COBRA medical coverage eligibility might automatically end. Failing to pay your premiums on time will result in your being dropped from COBRA. You can also be dropped if your former employer no longer offers a group health insurance contract to its current employees. You will lose the coverage if you accept a group medical insurance policy that covers your any pre-existing conditions you may have. If you become eligible for Medicare your COBRA will end.

One of the shortcomings of COBRA health insurance is the fact that it is a short-term insurance plan. This means that when your eligibility ends you will have to apply for coverage through another plan. There is no guarantee that you will qualify when that time comes. This means that your COBRA medical coverage option can mean that you no longer qualify for medical coverage at some point.

If you have 18 months of eligibility for COBRA health insurance, you have a year and a half where a sickness or an accident can render you medically uninsurable for your next policy. For this reason it may be advisable to buy a health insurance contract that you can keep long term as soon as your employment ends.

COBRA Insurance is often much more expensive than individually underwritten health care insurance plans. Insurance companies often base the rates they charge to groups largely on the claims that receive for that group. When you have an individual or family coverage, the rate will be based on the claims they expect to receive for you or you family.

This can result in a your being charged a much lower premium. If you and your family are in good medical you will probably pay as little as half the price you would have paid for COBRA health insurance.

You may find that the same health insurance company that provides group insurance to your employer will also insure you on a non-group basis. This can mean that you can tap into the same network physicians and hospitals if you switch to one of their individual or family plans.

You should explore your options with alternatives to COBRA medical coverage whether even if are already insured by a COBRA medical coverage plan. You do not have to wait until your eligibility ends to switch. If get a policy from another insurer, you can drop your COBRA Insurance at the end of the month.

COBRA health insurance is the best choice for many. It may not be the best alternative for you or your family. Be sure to get competitive health insurance quotes and look at COBRA health insurance alternatives. Another policy may be much less expensive.

by: Alston Balkcom

POST COMMENT

What Makes a Successful Drug Rehab Program Work Key to a Successful Drug Rehabilitation Scr - Forearm Crutch Manufacturer - Medical Supplies Crutches Yunnan Demand Of Small Rice Harvester - Harvester - Machinery Industry - Medical Supplies Crutches Enrollment Options for Medical Office Administration Career Training Medical Unit-than-expected Performance Of The Pharmaceutical Industry Is Generally Optimistic Drug Rehab Florida - Regain Control Of Your Life! Natural Eczema Treatment - Why Regular Medicine Just Won't Do the Trick Anymore Acyclovir Drug Uses And Information Advancing Medical Management Software Understanding The Drug Abuse Process A Drug Rehab Center Is The Best Place To Recover From Substance Dependency Medical Information Concerning Ativan