Health COBRA - Your Bridge to Nowhere?
When it comes to your health, COBRA coverage may not necessarily be your best option.
The government requires employers to allow former employees to retain the coverage they had during there employment tenure.
The only catch is that you are now responsible for paying the entire portion of your monthly health insurance premium, whereas, before, your employer was paying a major portion of it on your behalf.
Your employer's health insurance plan may have worked well for you, but now that your monthly premium will have effectively doubled, you now have to evaluate your options for dental, vision, and health.
COBRA was never intended to be a viable long-term solution to begin with.
You are far better off shopping around for your own health insurance as soon as possible.
Fortunately there are hundreds of health insurance options out there that cover a wide variety of insurance needs, ranging from low to high deductibles, low to high premiums, plans that do cover maternity and plans that don't, plans that do cover prescription drugs and plans that don't.
If you know which one is right for you, you could actually end up saving a considerable amount of money overall when compared with maintaining your former employer's coverage under the COBRA plan.
Indeed, when it comes to managing your health, COBRA may not necessarily be your best option.
It is meant only to help you temporarily maintain coverage so that you aren't left with a coverage gap because your employment has ended.
To borrow a phrase from one of the most high-profile politicians of our team, the COBRA plan really is a "bridge to nowhere"!
The government requires employers to allow former employees to retain the coverage they had during there employment tenure.
The only catch is that you are now responsible for paying the entire portion of your monthly health insurance premium, whereas, before, your employer was paying a major portion of it on your behalf.
Your employer's health insurance plan may have worked well for you, but now that your monthly premium will have effectively doubled, you now have to evaluate your options for dental, vision, and health.
COBRA was never intended to be a viable long-term solution to begin with.
You are far better off shopping around for your own health insurance as soon as possible.
Fortunately there are hundreds of health insurance options out there that cover a wide variety of insurance needs, ranging from low to high deductibles, low to high premiums, plans that do cover maternity and plans that don't, plans that do cover prescription drugs and plans that don't.
If you know which one is right for you, you could actually end up saving a considerable amount of money overall when compared with maintaining your former employer's coverage under the COBRA plan.
Indeed, when it comes to managing your health, COBRA may not necessarily be your best option.
It is meant only to help you temporarily maintain coverage so that you aren't left with a coverage gap because your employment has ended.
To borrow a phrase from one of the most high-profile politicians of our team, the COBRA plan really is a "bridge to nowhere"!
