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Insurance After COBRA

Posted on: March 16th, 2012 by Cobra Insurance Guide

insurance after COBRACOBRA insurance only lasts 18 months for most people and when the end of your COBRA insurance is quickly approaching, many people begin to think about insurance after COBRA.  There are many options for insurance after COBRA but it is important to think through all the options carefully to make sure you choose the right plan for you and your family.  We always recommend starting by getting a free health insurance quote so you have a general idea of what options are out there for you and your family. Taking 5-10 minutes to fill out a quote will open your eyes to what is on the market, the price ranges, and what you should be thinking about for insurance after COBRA.

Option 1:  Private Health Insurance

Then most common insurance that people get after COBRA is private health insurance.  This is normally through a major company and there are health insurance plans of all types depending on your health needs and budget.  The most comprehensive plans available are private individual and family plans which generally offer plans that are very similar to what you had on COBRA insurance.  There are HMOs and PPOs available as well as varying levels of co-payments and deductibles depending on your needs.

The second most popular type of private health insurance plan that people get after COBRA is a short term health insurance plan.  These plans normally have high deductibles and are meant to help cover you in the short term.  These plans can last anywhere from 1 day to about 1 year and normally only cover emergencies.  They are built to help keep you covered in between jobs or other health insurance plans.

The other popular insurance after COBRA is catastrophic health insurance plans which only cover emergencies.  These plans tend to be very inexpensive and only cover medical emergencies.  The deductibles are generally very high and they do not include doctor visits or other care in most cases.  They usually are very affordable since the coverage is minimal.

Option 2:  Government Health Insurance

It is always wise to look into government health insurance as an option for insurance after COBRA.  Many times adults and especially children can be covered by government health insurance plans is your income is below a certain level.  These plans can be offered by the federal or state government.  In addition if you are at or near to retirement age, there is government health insurance you can use.

Option 3:  Health Insurance From New Employment

Finally you can look for a new job that includes health insurance.  Many people do not remember to ask about health insurance when looking at a job but it should be an important consideration.  Even if the job isn’t exactly what you are looking for in the long term, taking a job that has health insurance, especially if you or someone in your family has a preexisting condition can be a smart move.  There are many part time jobs that come with health insurance like working at Starbucks, driving a school bus, or serving as in aid in a public school.  Look at all your options.

 

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