Finding a alternative to COBRA
Carmen knows that going without health insurance can be a financial disaster to her family, so when she lost her job as a sales person she looked at all her options. Carmen has no idea how long she may be out of a job so she does not want to go uninsured.
She has been offered COBRA insurance from the employer she left. It is very expensive and she fears she can not afford that. COBRA states that you can keep your employer sponsered insurance for up to 18 months and is offered by employers with 20 or more employees.
In addition to your employer adding administrative fees to your premium, the COBRA premium is also someimes doubled. Why is this you ask? Well, the reason being is that the no longer make a contribution. So you are paying the total premium plus admin fees.
Before opting out of COBRA you should loo at your health. Carmen has high blood pressure and has to take 2 medicatins. She is also expected to make regular visits to her doctor. Her husband however is very healthy!
Pre exisiting conditions are excluded on temporary health insurance plans. So Carmen may decide to take the COBRA to cover her high blood pressure. Since Jose, her husband is healthy she can find an affordable temporary plan for him.
There are a few factors to consider besides health. Although health is a very important one. Here are a few things to consider as well:
1. Temporary helath insurance is just that....temporary. So if you purchase 6 months and then find you need it 12 months you may be trying to find more coverage at the last minute. So you should consider this.
2. Because temporary health insurance does not cover any pre exisitng conditions, ignoring this fact could cost you big time. You should also keep in mind that if you take a temp plan and then get sick, once the term is the new condition is then called pre exisitng and will not be covered if you have to extend the term.
3. Temporary health insurance was designed to be a major medical safety net. It is not going to cover the common visit to the doctors office. The plans usually have high deductibles to meet also. So you can expect to pay some out of pocket costs.
She has been offered COBRA insurance from the employer she left. It is very expensive and she fears she can not afford that. COBRA states that you can keep your employer sponsered insurance for up to 18 months and is offered by employers with 20 or more employees.
In addition to your employer adding administrative fees to your premium, the COBRA premium is also someimes doubled. Why is this you ask? Well, the reason being is that the no longer make a contribution. So you are paying the total premium plus admin fees.
Before opting out of COBRA you should loo at your health. Carmen has high blood pressure and has to take 2 medicatins. She is also expected to make regular visits to her doctor. Her husband however is very healthy!
Pre exisiting conditions are excluded on temporary health insurance plans. So Carmen may decide to take the COBRA to cover her high blood pressure. Since Jose, her husband is healthy she can find an affordable temporary plan for him.
There are a few factors to consider besides health. Although health is a very important one. Here are a few things to consider as well:
1. Temporary helath insurance is just that....temporary. So if you purchase 6 months and then find you need it 12 months you may be trying to find more coverage at the last minute. So you should consider this.
2. Because temporary health insurance does not cover any pre exisitng conditions, ignoring this fact could cost you big time. You should also keep in mind that if you take a temp plan and then get sick, once the term is the new condition is then called pre exisitng and will not be covered if you have to extend the term.
3. Temporary health insurance was designed to be a major medical safety net. It is not going to cover the common visit to the doctors office. The plans usually have high deductibles to meet also. So you can expect to pay some out of pocket costs.
About the Author:
Are you are need of temporary health insurance or need to know more about your choices contact Agent Jeff Cline. He is an professinal at COBRA replacements. Are you need a more permanent individual health insurance he can help you with that also. He can be reached anytime at his toll free number 866-526-9669.
posted by Debt Consolidation Loan at
3:47 AM
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