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When To Consider COBRA Health Insurance Alternatives

Posted on: August 9th, 2011 by Cobra Insurance Guide

COBRA insurance is a great health care option for many, however it definitely isn’t always the most affordable or most strategic choice depending on your circumstances.  The following list outlines some reasons you may not want to sign up for COBRA insurance.

1.  You are in good health:  If you are in good health, you may be able to find a less costly health insurance alternative to COBRA without losing too much coverage.  Explore alternative plans and research different insurance options if you are relatively young and in good health.

2.  You are on a tight budget:  The fact is that COBRA insurance is very expensive for most families to keep and it is like there are more cost effective insurance plans out there.  Explore other options if you are on a tight budget.  You may have to accept a more strict health insurance plan but can save lots of money.

3.  You qualify for state or federal health insurance:  Always make sure to check to see if you qualify for any state or federal health insurance plans before enrolling in COBRA.  This could include plans for children and/or governmental health insurance plans for veterans and others.  These plans will be much more cost effective.

4.  You qualify for Medicare:  If you can sign up for Medicare, it is a much cheaper option to COBRA health insurance.  You can still sign up for COBRA insurance to be  a secondary plan but it will come at a high cost.

5.  You believe you will have another job with insurance soon:  If you believe you will be employed soon, especially within 60 days, you may be able to wait.  COBRA insurance can be retro-activated 60 days past the last day of your coverage, which means if you have any medical emergencies during that time, you can just sign up for COBRA and be covered.


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