What is COBRA and is it right for me?
COBRA (Consolidated Omnibus Budget Reconciliation Act) or continuation of health coverage, gives workers and their families the option to continue health benefits after leaving employment. You have a limited amount of time to elect coverage and the length in which you can continue coverage may vary. In some circumstances, continuing on your current plan may be the best option, especially if you left due to medical reasons and are continuing to receive medical care, or have met your annual deductible or max out of pocket for the year.
COBRA premiums are higher than when you were employed due to you having to pay the entire premium, whereas your employer was contributing on your behalf.
There are options that are available if the premium is unaffordable.
This is where we can help. Sometimes a short term plan can fill the gap if you have a waiting period for your new employee benefits to begin, or we can look at permanent plan with no pre-existing condition exclusions.
You typically have 60 days to make a change after loosing coverage, so be sure not to wait!
Still have questions? We can help. Our contact info is at the bottom of this page.