By Bethany North
COBRA is a popular option for temporary health coverage at group rates. However, many individuals in the workforce today run into problems because it is only available under specific circumstances. Often times, this COBRA coverage can be more expensive than health coverage through your employer, especially if your employer is paying a portion of the premium. However, COBRA is generally less expensive than paying for your own individual health coverage.
What many workers are facing in the job force today is standing at a crossroads when their COBRA runs out. If that sounds like you, there are a few options available to you to find continual health coverage at an affordable price.
- Start out by keeping your COBRA until you have other health coverage readily available to you. It’s not a good idea to have a lapse in your coverage because that could cause potential problems.
- From there, look to your state for insurance programs that are income based. If you cannot afford individual health care, then this may be the best option available to you. Medicaid is a great choice if you have children and are below a certain income bracket. If you are also currently unemployed, then this could be your best choice for health care.
- Consider individual insurance. There are many different options in individual insurance after COBRA runs out, but it is important to comparison shop to make sure that you are getting the very best deal possible. Examine all of the packages that are offered to you closely to determine what the deductibles, co-pays, and total cost may be. You don’t want to sign up for anything with hidden charges, causing you to pay more in the long run.
- Work with a licensed insurance agent. This is someone who will know the market well, and they will also be able to answer all of your health care questions for you. Often times, they can work with you directly based on your income to make sure that your needs are met in the plan that you select.
- Join the plan of a family member or spouse. This is a quick way to get complete healthcare coverage, especially if you are no longer covered under COBRA.
- Contact any professional organization that you may be a part of. They will often times offer discounted member rates for health insurance, so make sure that you go directly to your teacher’s organization, school organization, or other program to determine if you can access discounted coverage.
Last of all, consider a COBRA extension if you have any qualifications to do so. This could include a marriage, divorce, birth, or death in the family. These benefits will not last forever, but you may be able to have a temporary extension if certain events in your life deem it necessary. The bottom line is that from that point, you will need to take a proactive stance in finding suitable and affordable healthcare for both yourself and your family with the tips that have been listed above.
About Bethany North
Bethany North is a coffee fanatic that has spent the entirety of her career cultivating and studying all of the best uses and brewing styles for optimal coffee and espresso flavor. Her specialty site for all coffee needs, supplies, and Bunn Coffee Maker Filters can be found at thecoffeebump.com.
I normally surf all over the internet because I have the tendency to read a lot (which isn’t always a good thing because the majority of sites just copy from each other) but I must say that yours contains some genuine substance! Thanks for stopping the trend of just being another copycat site!
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