COBRA insurance alternatives
Carmen is suddenly unemployed. She does not want to take a risk of having no health insurance. So she looks to all of her options. She wants to make a smart decision.
Carmen knows she has the COBRA insurance option. She also knows how expensive it can be. COBRA mandates that an employee can keep their health insurance for up to 18 months if they become unemployed for any reason.
COBRA insurance typically has a big price tag. Once the employer takes away their contribution and add admin fees the premium could double. Many people find this price tag hard to handle.
Due to the cost of COBRA insurance many people look to the alternatives like temporary health insurance. Carmen and her husband were on her employer sponsored plan. Her husband is very healthy. Carmen has high blood pressure and requires medication and regular MD visits.
Most temporary medical plans will not cover pre existing conditions. For this reason Carmen should try to keep her COBRA insurance. But, there is no reason she shouldnt look for something more affordable for her husband.
There are a few factors to consider besides health. Although health is a very important one. Here are a few things to consider as well:
1. What if you only purchase 6 months and then you find yourself needing longer. You will either be srambling around for more or you will have to reapply for the same one. This may not be something you care to deal with.
2. Due to the pre exisitng exclusions it temporary health insurance may not be the best option. You also have to think about if you opt for temporary insurance and then you find yourself needing more time. If you have contracted an illness in the original term, it will not be covered in the new term.
3. Temporary health insurance typically have high deductibles. These plans are meant as a sfeguard. Just in case you get an illness that has much expense. It is not meant for the occasional office visit, so you can expect to pay that out of your pocket.
Carmen knows she has the COBRA insurance option. She also knows how expensive it can be. COBRA mandates that an employee can keep their health insurance for up to 18 months if they become unemployed for any reason.
COBRA insurance typically has a big price tag. Once the employer takes away their contribution and add admin fees the premium could double. Many people find this price tag hard to handle.
Due to the cost of COBRA insurance many people look to the alternatives like temporary health insurance. Carmen and her husband were on her employer sponsored plan. Her husband is very healthy. Carmen has high blood pressure and requires medication and regular MD visits.
Most temporary medical plans will not cover pre existing conditions. For this reason Carmen should try to keep her COBRA insurance. But, there is no reason she shouldnt look for something more affordable for her husband.
There are a few factors to consider besides health. Although health is a very important one. Here are a few things to consider as well:
1. What if you only purchase 6 months and then you find yourself needing longer. You will either be srambling around for more or you will have to reapply for the same one. This may not be something you care to deal with.
2. Due to the pre exisitng exclusions it temporary health insurance may not be the best option. You also have to think about if you opt for temporary insurance and then you find yourself needing more time. If you have contracted an illness in the original term, it will not be covered in the new term.
3. Temporary health insurance typically have high deductibles. These plans are meant as a sfeguard. Just in case you get an illness that has much expense. It is not meant for the occasional office visit, so you can expect to pay that out of your pocket.
About the Author:
Are you are need of temporary health insurance or would like to know more about your options contact Agent Jeff Cline. He is an professinal at COBRA alternatives. Are you need a more permanent individual health insurance he can help you with that also. He can be reached anytime at his toll free number 866.526.9669.
posted by Debt Consolidation Loan at
5:26 PM
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