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How to Qualify for 36 Months of COBRA Insurance

Posted on: July 22nd, 2011 by Cobra Insurance Guide

DoctorAlthough for most people COBRA insurance coverage will only last 18 months, there  are some situations where COBRA health insurance can actually extend beyond the typical 18 months.  Knowing what these circumstances are can save you and your family from having to switch insurers or experiencing a lapse in health insurance coverage.

1.  A Second Qualifying Event:  Under the federal COBRA insurance laws, there are certain events, known as a Secondary Qualifying Event” that will extend COBRA insurance coverage for an additional 18 months to 36 months in total.  The downside to this law is that it almost only extends to dependents and spouses and not to the former employee.  If the formerly covered employee becomes entitled to Medicare, becomes divorced or separated from a spouse covered on the COBRA plan, or the formerly covered employee dies, their dependents/spouses are able to have health insurance under COBRA insurance plans.  Also if a dependent child covered under COBRA loses their dependent status, they can qualify for an additional 18 months of COBRA health insurance coverage.

2.  State Sponsored COBRA Insurance:  Many states offer their own COBRA insurance programs normally known as mini COBRA plans.  In some states, these plans offer an additional 18 months of coverage to eligible state recipients and their dependents.  Learn if your state offers state sponsored COBRA insurance here.

As always, before you decide to extend your COBRA insurance coverage for an additional 18 months you should always consider alternatives to make sure you have the right coverage at the right price.

Unemployed Individual Health Insurance Plans – An Alternative to COBRA Health Insurance

Posted on: July 12th, 2011 by Cobra Insurance Guide

Unemployed Individual Health Insurance Plans - An Alternative to COBRA Health InsuranceWith the unemployment rate still hovering at 9% this month, that means that thousands of folks are finding themselves needing a sound health insurance option for themselves and their families.  Knowing this and know how complicated it can be to determine what health insurance plan is right for you, here are some of the key factors to consider when looking into health insurance options for  you and your family.  And the best way to make a decision, make a chart, include the following information, and weigh out your options.  At the very least you should compare COBRA health insurance, individual health insurance plans, and short term health insurance plans (also known as catastrophic or high deductible plans.  To get this information fast, use online insurers and request quotes – it’s the fastest way.  You can find this links on our website under COBRA insurance alternatives.

1.  Monthly Premium:  This is the monthly cost to cover you and your family.  For most people who are unemployed this will be a key deciding factor in exploring health insurance options.

2.  Plan coverage:  Make sure you fully understand what the plan covers – what doctors, what prescriptions, what emergencies.  This is critical.

3.  Preventive Care:  Find out if the health insurance plan offers preventive care.

4.  Deductibles:  Find out how much it will cost when you go to the doctor, the emergency room, need an ambulance, fill a prescription, and more.

5.  Length of coverage:  How long can you be covered under the plan.  Under many short term plans, there is a maximum length of coverage and COBRA health insurance also has a maximum coverage period.

6.  Prescriptions:  Make sure to find out if the plan coverages prescriptions, especially if you are currently taking medication, and what the cost is.

7.  Flexible Spending:  If this is an important plan feature, make sure to check in if they have it.

Once you have all of this information, compare your options and choose the best option for you and your family.

COBRA Health Insurance – Is it the Best Choice?

Posted on: July 11th, 2011 by Cobra Insurance Guide

If you arNurse and computere someone who has recently lost or quit your job, likely you are facing the difficult decision of whether COBRA health insurance is the right choice for  you.  COBRA health insurance is actually not health insurance at all, but actually a governmental law that allows you to choose to continue your group health insurance plan under the COBRA health insurance act with your previous employer.  Most people qualify for COBRA health insurance if they work at a company with over 20 employees and were not fired for gross misconduct.  Also, under COBRA health insurance it is likely that anyone previously covered under your plan (i.e. spouses, children, and other dependent) will be covered under COBRA health insurance.

So who is COBRA health insurance good for?

  • Workers, spouses, or dependent young children who have pre-existing wellness conditions that most likely will not be covered under a new insurance provider.
  • Those who expect to obtain on one other employer-sponsored plan within the near future and only need a short term remedy
  • Numerous outside insurance plans demand which you sign up for a minimum period of coverage.
  • Workers and their spouses over the age of 50
  • Employees who are pregnant or have pregnant spouses or dependents or are preparing to do so
  • Have recently been declined for private wellness insurance coverage
  • Have had an accident within the last 30-60 days
  • Are presently taking pricey medication
  • Have a history of health problems or recent wellness difficulties
  • Individuals who want continued, unchanged wellness insurance coverage and can afford the premiums
    Live in a state
    with out competitive private health insurance selections like New York or New Jersey

Who may want to consider COBRA health insurance alternatives?

  • Have no pre-existing well being conditions
  • Are young and generally wholesome
  • Qualify for a spouse’s wellness insurance strategy
  • Qualify for a state sponsored well being insurance program like Medicaid OR have dependent kids who qualify for state sponsored children’s wellness insurance coverage
  • Aren’t preparing on undergoing any medical procedures in the near future
  • Live in a state with a competitive private well being insurance marketplace like California, Texas, Florida, Michigan, Georgia, Illinois, Oregon, or Washington
  • You qualify for a professional, alumni, or fraternal organization’s wellness insurance coverage
  • You’re under 26 and can gain coverage under a parent’s well being insurance program

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