C.O.B.R.A. Medical Care coverage vs Individual OR Family Health assurance

Even though COBRA Insurance might be a good choice for a lot of people, former employees often accept the C.O.B.R.A. option when they shouldn't. When compared to family or individual healthcare Insurance, COBRA can cost more than other options, it may conclude too early and it may put someone else in control of your policy.
C.O.B.R.A. is often too expensive
C.O.B.R.A. is s short-term solution
COBRA is under someone else's control
COBRA is often too expensive
The C.O.B.R.A. law gives you the right to be covered by a group coverage policy. One of the biggest misconceptions families have about medical care insurance is that group insurance policies are less costly than individual and/or family medicalcare insurance policies that you can acquire on your own. Although this is sometimes true, it isn't usually. In some states, health assurance costs more if acquired through an employer.
This is because of the cost of governmental mandates that apply to group medical care Insurance policies that don't apply to individual or family medical Insurance policies. A company offering a group Insurance policy may have to offer a policy to anyone regardless of their medicalcare history. insurance companies cannot drop an insured person from their family and/or individual medicalcare Insurance policy simply because their health care has gotten worse since they applied, but they may reject new people who are unhealthy. This can mean that the insurance company's costs are much higher for their group Insurance policies than for their family or individual health Insurance policies.
You may be offered the group assurance plan that you had before your job ended and/or if your company has made changes in the policies they offer to their current employees, it may be a different medical care plan.
C.O.B.R.A. is s short-term solution
In most scenarios, C.O.B.R.A. can be kept for a maximum of 18 months, however in certain situations, this time period may be extended to 36 months. This may mean that your coverage may end when you need it the most. A good individual and/or family health care coverage policy may cover you until you reach the age of 65.
You may be healthy enough to qualify for a long-term health insurance plan at the time when your employment ends but not 18 months later. If you or someone in your family come down with a disease and/or have trauma that keeps you from buying a policy at the end of your C.O.B.R.A. eligibility
C.O.B.R.A. is under someone else's control
When you mail in your C.O.B.R.A. payments, you send them to your former company. Howeverthis happens rarely, sometimes companies will take your money and never pay the insurance company.
If your company changes the plans that are offered to their current employees, they may also change the plans available to those eligible for health care insurance because they have taken the COBRA option. This may mean that your plan may not cover you as well as it used to. You may suddenly be in the position of having an expensive plan that no longer covers you well.
Situations where C.O.B.R.A. is better than private healthcare coverage:
When COBRA is much less pricey than a private assurance plan
A individual health Insurance plan isn't available to you
You're assured a healthcare coverage plan before your COBRA eligibility ends.
There are scenarios where COBRA is a better option than a family and/or individual health care assurance plan. If you're unable to get a medicalcare plan on your own at a good rate and you find that your C.O.B.R.A. is being offered at a good price C.O.B.R.A. may be your best options. This of course is also true if you aren't able topurchase a COBRA plan because of a pre-existing condition. Another situation where COBRA can be a good option is when you will be eligible for Medicare and/or some other medical policy before your COBRA eligibility will be over.

Article Source: http://www.mycontentbuilder.com

Alston J. Balkcom has been an insurance agent since 1985. He has helped hundreds of people find inexpensive alternatives to COBRA

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