COBRA - Options for Health Insurance Coverage
COBRA is an acronym that stands for "Consolidated Omnibus Budget Reconciliation Act," and it is not health insurance, it's a federal law designed to help people keep their health insurance during the transition time between jobs.
If you are employed by a company with 20 or more employees, and you leave your job for any reason, you have the right to continue with the health insurance coverage you and your family received. COBRA requires the employer to offer you the opportunity to continue your company coverage for up to 18 months. While you maintain this coverage, however, you must pay both your normal portion of your premiums, plus the amount your employer normally paid.
It's important to compare the cost of your COBRA with an equivalent individual or family health plan. When you have COBRA you are not only paying for the health insurance coverage but you are also paying an administrative fee to your former company.
Make sure you know what your options are for coverage once your COBRA eligibility ends. Do this BEFORE it expires. Don't let your coverage lapse. Many states have different laws on eligibility requirement for obtaining health insurance. Check with a licensed insurance professional versed in the laws of your state for advice.
Try to find an online health insurance quote provider for your health insurance in your state. These services are usually free and can also offer the backup of experienced health insurance Advisors to help you make sense of the options for you as an individual or for family health insurance.
Lorne Zalesin joined MyInsuranceExpert.com following a successful career in residential building and real estate sales. A self-proclaimed "serial entrepreneur", Zalesin is a licensed residential builder, licensed residential real estate broker, and licensed in life insurance and health insurance. Zalesin earned a Bachelor of Arts and a Master's in Business Administration, from The University of Michigan, and is also a graduate of the William Davidson Business Institute and Massachusetts Institute of Technology's (MIT) "Birthing of Giants," an elite educational program focused on successful leadership practices and unique growth strategies for entrepreneurs.
Talk with an Experienced Health Insurance Advisor at MyInsuranceExpert.com. Affordable health insurance options are out there for you and your family.
COBRA - Fall Back Health Insurance
There are many downsides to losing your job to say the least. One that may not immediately come to mind is the loss of your h...
COBRA - Fall Back Health Insurance
There are many downsides to losing your job to say the least. One that may not immediately come to mind is the loss of your h...
COBRA Health Insurance - What You Need To Know
COBRA health insurance is an area of insurance law that suffers from a certain degree of uncertainty and yet this law will af...
COBRA Health Insurance - What You Need To Know
COBRA health insurance is an area of insurance law that suffers from a certain degree of uncertainty and yet this law will af...
Affordable Health Insurance in Houston, Texas
Houston, Texas provides many things to many people. Museums, fairs, marathons, festivals you name it, and Houston, Texas ha...
Student Health Insurance Coverage
When it comes time for your child to move away from home and attend college or university there are a number of different thi...
Student Health Insurance Coverage
When it comes time for your child to move away from home and attend college or university there are a number of different thi...
Health Insurance - Understanding The Benefits Of COBRA
The Consolidated Omnibus Budget Reconciliation Act of 1985, more commonly referred to as COBRA, is a federal law which is des...
Why Does COBRA Coverage Cost So Much?
When a person loses their job for any reason, and fears the subsequent loss of their health insurance coverage, COBRA mandate...
Health Insurance Options for the Self-Employed
With todays society allowing business to be performed easily with a click of a mouse, it is no wonder the internet has grown ...
How to Keep Your Health Insurance Coverage
One big factor today if considering a change in employment is health insurance coverage. Many employers are being forced to ...
Health Insurance And The Role Of COBRA
COBRA (The Consolidated Omnibus Budget Reconciliation Act, 1985) is a federal law designed to ensure that people can continue...
COBRA and Health Insurance
Congress passed the landmark Consolidated Omnibus Budget Reconciliation Act (COBRA) health benefit provisions in 1986. The la...
Low Cost Health Insurance Options For The Self-Employed
Are you working at an office getting all the benefits of health care and a solid job but do not like what you do? I would sug...
Low Cost Health Insurance For The Self Employed
The freedom of having ones own business, the liberty of being the master of your own self, can be extremely invigorating. How...
Affordable Health Insurance for the Unemployed
According to the National Coalition on Health Care, 15.7% of Americans were without affordable health insurance in 2004. Bei...
Help! I Lost My Health Insurance!
It can literally be one of the scariest places to find yourself - without health insurance coverage. When a simple trip to t...
Health Insurance - Temporary Alternatives That You Can Benefit From
Fortunately there are temporary alternatives to regular health coverage plans that can offer you protection during specified ...
Choosing A Short Term Health Insurance Plan
Although we hope it will never happen, for all too many of us the day could well come when we lose our job and, with it, we l...
What to Do When Your Health Insurance Won’t Cover Your Medical Care
It is becoming increasingly expensive to get a health insurance coverage nowadays. However, health insurance is a long term i...