COBRA – What a joke – Can you really pay for employer health care insurance if you lose your job?
Website design By BotEap.comYou just lost your job and your human resources representative just told you about COBRA (Consolidated Omnibus Budget Reconciliation Act). In theory, COBRA is amazing (if you qualify) it gives a person who becomes unemployed a way to stay covered by the old health insurance policy.
Website design By BotEap.comThere are two things to remember about COBRA.
Website design By BotEap.com1. You can only participate and be covered for 18 months
2. In almost all cases, you must pay 100% of the premiums because the company does not help pay for the coverage. Website design By BotEap.comHow does that break down for most Americans? Let’s quickly examine some facts about the use of COBRA and employer-sponsored health insurance: Website design By BotEap.com… An individual country around $600 to $800 per month for continuous coverage under COBRA law
… A family pays about $1,250 to $1,500 a month for continuous coverage under COBRA
… The average person with unemployment insurance earns $1,334 a month
… Just under 20% of people who are eligible for COBRA can afford to use it
… Most people don’t know about the COBRA “loophole” (basically, you have 60 days to decide if you want to use COBRA. You can use the insurance for 59 days). In essence, you can get $1,200 to $1,600 of free health insurance coverage depending on the cost of your premiums. Website design By BotEap.comCOBRA is not a real answer, not even for temporary health insurance; you can get affordable and cheaper coverage. This is quality health insurance coverage. You can purchase your own personal or family health insurance policy that can be customized to best suit your needs.
2. In almost all cases, you must pay 100% of the premiums because the company does not help pay for the coverage. Website design By BotEap.comHow does that break down for most Americans? Let’s quickly examine some facts about the use of COBRA and employer-sponsored health insurance: Website design By BotEap.com… An individual country around $600 to $800 per month for continuous coverage under COBRA law
… A family pays about $1,250 to $1,500 a month for continuous coverage under COBRA
… The average person with unemployment insurance earns $1,334 a month
… Just under 20% of people who are eligible for COBRA can afford to use it
… Most people don’t know about the COBRA “loophole” (basically, you have 60 days to decide if you want to use COBRA. You can use the insurance for 59 days). In essence, you can get $1,200 to $1,600 of free health insurance coverage depending on the cost of your premiums. Website design By BotEap.comCOBRA is not a real answer, not even for temporary health insurance; you can get affordable and cheaper coverage. This is quality health insurance coverage. You can purchase your own personal or family health insurance policy that can be customized to best suit your needs.