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How Do I Apply For COBRA Insurance?

Posted on: November 30th, 2011 by Cobra Insurance Guide

People holding handsMany people wonder to themselves, “How Do I Apply For COBRA Insurance?” after losing a job or quitting their job.  It is already a stressful time and this can be one additional hassle that people worry about.  Luckily, applying for COBRA insurance is extremely easy and just takes a small amount of paperwork.

1.  Get the COBRA Insurance Election form from your employer:  In most cases your employer will provide you with a COBRA election form within 14 days of your health insurance ending.  This form contains the names of the people who are eligible for COBRA, the cost, and the date by which you must apply.  You can always ask your employer for the form to get it sooner and apply for COBRA.

2.  Complete the form:  Next you just need to complete the form in its entirety to apply for COBRA insurance.  Include the names of everyone who is signing up and review the form.

3.  Mail the COBRA application form in with the premium:  Finally you will have 60 days to apply for COBRA.  Once you are ready, mail in the form with the premium payment.

COBRA Insurance Premiums

Posted on: November 28th, 2011 by Cobra Insurance Guide

Nurse and PatientAn important part of anyone’s decision making process with COBRA insurance is understanding COBRA insurance premiums.  Here is a list of important things to know about your COBRA health insurance premiums.  Learn how to calculate your COBRA insurance premiums here.

  • COBRA insurance premiums are the full cost of the health insurance plan, without any employer help
  • COBRA insurance premiums usually cost up t0 80% than what an employee is used to paying
  • COBRA insurance premiums include a 2% administration fee
  • If COBRA premiums are not paid on time then the plan will be cancelled in most cases
  • You must pay the premiums for the entire retroactive period when you sign up

How Do I Get COBRA Insurance?

Posted on: November 25th, 2011 by Cobra Insurance Guide

Woman reading paperMany people wonder how they can go about getting COBRA insurance and surprisingly the process to get COBRA insurance is actually quite simple.

1.  Ask your employer for the COBRA insurance election form:  Although your employer is mandated by law to provide you with the COBRA insurance election form, it is always beneficial just to ask for it.  This will ensure you will get it as soon as possible.  This form will contain information about the monthly cost as well.

2.  Review the form and determine if COBRA insurance is the best option:  When you receive the form review it carefully to make sure you understand who is eligible, the cost, and the date by which you must enroll.  Then explore alternatives to make sure COBRA is right for you.

3.  Determine which family members will enroll in COBRA insurance:  You do not have to enroll every family member in COBRA to get COBRA insurance.  Make careful decisions about who to enroll and consider if anyone has alternative options for health insurance.

4.  Mail in the election form within 60 days:  You have 60 days to mail in the election form.  Make sure to mail it in on time and you will also need to send in the premium.

5.  Pay your COBRA premiums on time:  COBRA insurance can be cancelled any time the premiums are not paid on time.  Make sure that you always pay the insurance premium on time and reach out to your health insurance provider if you do not think you will be able to.

 

It’s that simple to get COBRA insurance.

What is COBRA Insurance Coverage?

Posted on: November 23rd, 2011 by Cobra Insurance Guide

Nurse and computerThis is a question that frequently surfaces anytime someone is considering leaving a job or gets laid off from their job.  COBRA insurance coverage in very basic language, is the ability to keep your current health insurance.  Under the law, COBRA insurance coverage, means that you can choose to maintain your current health insurance plan (the exact same plan) at full cost to you for up to 18 months in most cases.  So with COBRA insurance coverage, you keep the exact same doctor, medications, etc since you are just paying the full cost of the plan you had with your employer.

However, in order to get COBRA insurance coverage you also must meet the federal requirements for COBRA.  There are three requirements and most people and families find that they are eligible an can keep their health insurance.

COBRA Insurance Requirements

Posted on: November 21st, 2011 by Cobra Insurance Guide

Question There are three main requirements under the federal law to qualify for and enroll in COBRA insurance.  The COBRA insurance requirements are:

1.  Qualifying Event:  This refers to how you lost your employment and health insurance coverage.  Under the federal COBRA insurance requirements, you will meet the qualifying event criteria if you were laid off, quit, or lost your job and there was no presence of gross misconduct.  You can also qualify if your hours were reduced and you are no longer qualified for health insurance.

2: Qualifying Plan:  The qualifying plan COBRA insurance requirements refers to the type of health insurance plan that your employer had.  In most cases if your employer’s plan covered 20 employees, or their part time equivalents,  you will be eligible for COBRA health insurance.

3:  Qualifying Beneficiaries:  The last COBRA insurance requirement refers to who is eligible for COBRA insurance.  In most cases any spouse and dependents will be covered.  This usually means that anyone that was covered can remain covered.

COBRA Insurance Contact

Posted on: November 18th, 2011 by Cobra Insurance Guide

COBRA Insurance and the LGBTQ CommunityMaking decisions about health insurance and COBRA insurance is confusing and many times you will want to contact someone about COBRA Insurance.  Here are some of the best places for COBRA insurance contacts when you have questions.

1.  Have questions about your COBRA health insurance plan?  Call your health insurance provider.

2.  Have questions about eligibility and the federal COBRA law? Call 1-866-4-USA-DOL (1-866-487-2365) to talk to someone at the Deptartment of Justice

3.  Think that you were unfairly denied COBRA insurance benefits?  Call 1-866-4-USA-DOL (1-866-487-2365) to talk to someone at the Deptartment of Justice

4.  Have questions about the cost of COBRA insurance or the election period? Call your health insurance provider.

For other questions, always reach out to your health insurance provider first as they are able to answer most questions.

COBRA Insurance Regulations

Posted on: November 16th, 2011 by Cobra Insurance Guide

Stethoscope and PenThe COBRA insurance regulations outline who is eligible to receive COBRA insurance, for how long, and what exactly the coverage can look like.  COBRA insurance regulations were passed in 1986 by the federal government as a protection to employees.  This protection made certain that an employee and their family wouldn’t suddenly lose their health insurance if they were laid off or lost their job.

Under the COBRA insurance regulations, most people who had health insurance from their employer and weren’t fired for gross misconduct, like theft, can enroll in COBRA and keep their insurance.  The COBRA insurance regulation outlines that this continuation of coverage will be at full cost to the employee and normally lasts for 18 months.  It also says that the benefits extends to family members and other dependents who can also keep their coverage.

COBRA Insurance Divorce

Posted on: November 14th, 2011 by Cobra Insurance Guide

Getting a divorce can be hard enough and then on top of that you have to make difficult decisions about health insurance.  What many people do not realize is that getting a divorce is a covered qualifying event under COBRA.  So what does that mean?  That means if you were on your spouse’s health insurance plan and it meets the federal plan requirements, that you can keep your health insurance coverage for up to 18 months in the event of divorce.

You will need to get COBRA insurance election forms from your spouse’s health insurance company.  Usually a quick phone call can accomplish this.  You will then have 60 days to complete the paperwork and sign up for COBRA health insurance.  Once you sign up you will be responsible for paying the entire premium to keep the insurance.  It can be cancelled at any time should you find your own health insurance, get a job with health insurance, or get remarried.

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