When a person loses a job, or there are cutbacks at work, they may find themselves in the position of being offered Cobra.
The term Cobra is named after the law that created the requirement that a person be allowed to continue their medical coverage. (Consolidated Omnibus Budget Reconciliation Act). Unfortunately for many, if not most, just at the time when they have no income, their expenses go up considerably. For many, accepting the Cobra option is simply not possible. Are there any other options?
Yes, three that I will talk about.
1) Temporary Coverage while between jobs. This is best for those who know, or reasonably expect, to be back at work, either at their current job or another one.
2) If one is in reasonably good health, individual/family coverage may be the best option. This allows a person to continue their coverage should they find employment where there are no benefits or if they are going to start their own business. There are a number of quote engines that purport to provide a broad range of quotes. You will find that these are simply duplicates of one another. There are many choices not provided on these quote engines. I will do the “quote engine” for you, and also gather information on plans that do not generally show up on these quote engines. Please email me your information, including a good time to phone you. I will prepare a comprehensive quote for you, based on your needs, desires, and circumstances.
3) In cases where both of these are too expensive or a person cannot get individual coverage due to poor health, there are several good choices available. These plans are not as extensive as Individual or Group Major Medical, but none-the-less provide a reasonable degree of protection where the other choices are either unattainable or unaffordable. One of these choices may be applied for here. This plan is listed here because it is HIPPA compliant. If this is not needed, please let me know if you’d like to see other plans available.
