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After you are either laid off or leave your employer on your own, they will probably offer you COBRA Insurance. COBRA allows you to keep the group health insurance coverage that you had when you were employed. COBRA insurance could be the right choice for you. However there are many situations where one can find lower-priced coverage through an individual or family medical insurance contract that is not connected with COBRA medical coverage. COBRA health insurance allows you to have health insurance without any medical screening history. So long as you sign up during the election period and pay your premiums on time you will be able to keep your insurance regardless of your medical history. COBRA is only offered if you were enrolled in the group health insurance contract when you were employed. If you were terminated for gross misconduct, your employer does not have to offer COBRA health insurance to you. If your employer has fewer than 20 employees COBRA medical coverage is not mandatory. COBRA medical coverage is short-term insurance. In most situations a former employee can only keep coverage for a year and a half. In certain situations, you can keep COBRA Insurance for up to three years. There could lose your right to COBRA Insurance before you would lose your eligibility to COBRA health insurance. Not paying the monthly premiums on time will result in your being dropped from COBRA Insurance. You can also be dropped if your former employer no longer offers a group health insurance policy to its current employees. You will lose the coverage if you accept a group medical insurance contract that covers your any pre-existing conditions you may have. If you become eligible for Medicare your COBRA will end. One of the shortcomings of COBRA Insurance is the fact that it is a temporary coverage. This means that when your eligibility ends you will have to apply for coverage through another plan. There is no guarantee that you will qualify at that time so taking your COBRA health insurance option can mean that you become uninsurable at some point. If you have a year and a half of eligibility for COBRA Insurance, you have a year and a half where a sickness or an accident can render you medically uninsurable for your next insurance plan. For this reason it may be advisable to apply for a insurance plan that you can keep long term as soon as your employment ends. COBRA health insurance is often twice the price than individually underwritten medical insurance contracts. Insurance companies often base the rates they charge to groups largely on the claims that receive for that group. When you apply for an individual or family contract, the rate will be based on the claims they expect to receive for you or you family. This can result in a your being charged a much lower premium. If you and your family are in good health you will probably pay as little as half the price you would have paid for COBRA. You may find that the same medical insurance company that provides group insurance to your employer will also insure you on a non-group basis. This can mean that you can tap into the same network doctors and hospitals if you switch to one of their individual or family contracts. You should explore your options with alternatives to COBRA whether even if are already insured by a COBRA medical coverage policy. You do not have to wait until your eligibility ends to switch. If get a coverage from another insurer, you can drop your COBRA at the end of the month. COBRA medical coverage is the best alternative for many. It may not be the best alternative for you or your family. Be sure to get competitive health insurance quotes and look at COBRA health insurance alternatives. Another policy may be much less expensive.
Article Source: http://www.seoserviceprovider.com/articles
You can find cheaper COBRA alternatives by getting free quotes for medical insurance in KY or Connecticut medical insurance on the author, Alston J. Balkcom's website.
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