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Alternatives to COBRA Insurance

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Alternatives to COBRA Insurance

COBRA insurance provides guaranteed continuation of health insurance coverage without interruption or a change in your coverage, however for some people, COBRA insurance may not be the best option for you and your family depending on your needs. It is also likely that there may be less expensive health insurance coverage available to you. To determine whether or not COBRA insurance is the best option for you, it is important that you consider your health needs, personal situation, as well as alternatives to COBRA health insurance coverage. Make sure to always get a quote for alternative plans so that you can compare cost, plan details, copayment amounts, deductibles, coverage area, and more. The more information you have the better the decision will be you make.

What COBRA insurance alternatives should I consider?

Advantages of COBRA insurance

  • Maintain the exact same coverage you had with your employer, without interruption
  • Under COBRA, all conditions are covered without limitations, exclusions, or waiting periods
  • Guarantees continued coverage for you and your family

Disadvantages of COBRA insurance

  • Premiums can be extremely high and can increase if you opt to extend coverage
  • COBRA insurance is a temporary fix
  • COBRA insurance can not be customized to fit your budget or your specific health insurance need
  • COBRA insurance is not the cheapest option for health care coverage

COBRA insurance is best for:

  • Employees, spouses, or dependent children who have pre-existing health conditions that likely won't be covered under a new insurance provider.
  • Those who expect to get on another employer-sponsored plan in the near future and only need a short term solution. Many outside insurance plans require that you sign up for a minimum period of coverage.
  • Employees and their spouses over the age of 50
  • Employees who are pregnant or have pregnant spouses or dependents or are planning to do so
  • Have recently been declined for private health insurance coverage
  • Have had an accident within the last 30-60 days
  • Are currently taking expensive medication
  • Have a history of health problems or recent health problems
  • People who want continued, unchanged health insurance coverage and can afford the premiums
  • Live in a state without competitive private health insurance options like New York or New Jersey

A COBRA insurance alternative is best for:

  • Have no pre-existing health conditions
  • Are young and generally healthy
  • Qualify for a spouse's health insurance plan
  • Qualify for a state sponsored health insurance plan like Medicaid OR have dependent children who qualify for state sponsored children's health insurance coverage
  • Are not planning on undergoing any medical procedures in the near future
  • Live in a state with a competitive private health insurance market like California, Texas, Florida, Michigan, Georgia, Illinois, Oregon, or Washington
  • You qualify for a professional, alumni, or fraternal organization's health insurance coverage
  • You are under 26 and can gain coverage under a parent's health insurance plan


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