COBRA Medical Care Insurance Vs Individual OR Family Medical Care Insurance

While C.O.B.R.A. insurance can be a good option for many families and individuals, people too often take the COBRA option when it isn’t the best option.  If compared to individual and/or family medical care Insurance, COBRA can be pricey, it can conclude too early and it can put someone else in control of your policy.

– C.O.B.R.A. is often too costly

– C.O.B.R.A. is s short-term solution

– COBRA is under someone else’s control

COBRA  is often too costly

The COBRA law gives you the right to be covered by a group Insurance policy.  One of the biggest misconceptions former employees have about health coverage is that group assurance policies are less costly than family and/or individual healthcare coverage policies that you can acquire on your own.  Although this is sometimes true, it isn’t usually.  In a lot of states, medical care assurance costs more when bought 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 private medical insurance policies.  A company offering a group assurance policy may have to offer a policy to anyone regardless of their medical history.  assurance companies cannot drop an insured person from their individual or family health care coverage plan just because their medicalcare has worsened since they applied, but they won’t accept unhealthy applicants.  This can mean that the insurance company’s costs are much higher for their group Insurance policies than for their family or individual medical coverage policies.

You may be offered the group Insurance policy 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 health policy.

COBRA is a short-term solution

In most situations, COBRA can be kept for a maximum of 18 months, however in certain scenarios, this time period can be extended to 36 months.  This can mean that your coverage can be over when you need it the most.  A good private health care Insurance policy can cover you until you reach the age of 65.

You may be healthy enough to qualify for a long-term medical assurance policy when your employment ends but not 18 months later.  If you develop a condition and/or have trauma that prevents you from buying a policy at the end of your C.O.B.R.A.

eligibility

COBRA is under someone else’s control

When you mail in your C.O.B.R.A. payments, you don’t send them directly to your insurer.  While this happens rarely, sometimes a former employer will keepmoney 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 healthcare Insurance because they have taken the C.O.B.R.A. option.  This may mean that your policy may not cover you as well as it used to.  You may suddenly be in the position of having a pricey plan that no longer covers you well.

Situations where COBRA is better than private healthcare Insurance:

When C.O.B.R.A. is much less pricey than a individual assurance plan

A individual or family health care insurance plan isn’t available to you

You are assured a health care assurance plan before your COBRA eligibility ends.

There are scenarios where COBRA might be a better option than a private medical care Insurance policy.  If you are  not able to acquire a health policy on your own at a good price and you find that your C.O.B.R.A. offer is reasonable C.O.B.R.A. may be your best options.  This of course is also true if you aren’t able to purchase a C.O.B.R.A. policy because of a pre-existing condition.  Another situation when COBRA may be a good option is if you will be eligible for Medicare and/or some other medical plan before your COBRA eligibility will end.

Alston J. Balkcom has been an insurance agent since 1985. He has helped hundreds of people find health insurance.

COBRA Medical Care Insurance Vs Individual OR Family Medical Care Insurance

While C.O.B.R.A. insurance can be a good option for many families and individuals, people too often take the COBRA option when it isn’t the best option.  If compared to individual and/or family medical care Insurance, COBRA can be pricey, it can conclude too early and it can put someone else in control of your policy.

– C.O.B.R.A. is often too costly

– C.O.B.R.A. is s short-term solution

– COBRA is under someone else’s control

COBRA  is often too costly

The COBRA law gives you the right to be covered by a group Insurance policy.  One of the biggest misconceptions former employees have about health coverage is that group assurance policies are less costly than family and/or individual healthcare coverage policies that you can acquire on your own.  Although this is sometimes true, it isn’t usually.  In a lot of states, medical care assurance costs more when bought 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 private medical insurance policies.  A company offering a group assurance policy may have to offer a policy to anyone regardless of their medical history.  assurance companies cannot drop an insured person from their individual or family health care coverage plan just because their medicalcare has worsened since they applied, but they won’t accept unhealthy applicants.  This can mean that the insurance company’s costs are much higher for their group Insurance policies than for their family or individual medical coverage policies.

You may be offered the group Insurance policy 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 health policy.

COBRA is a short-term solution

In most situations, COBRA can be kept for a maximum of 18 months, however in certain scenarios, this time period can be extended to 36 months.  This can mean that your coverage can be over when you need it the most.  A good private health care Insurance policy can cover you until you reach the age of 65.

You may be healthy enough to qualify for a long-term medical assurance policy when your employment ends but not 18 months later.  If you develop a condition and/or have trauma that prevents you from buying a policy at the end of your C.O.B.R.A.

eligibility

COBRA is under someone else’s control

When you mail in your C.O.B.R.A. payments, you don’t send them directly to your insurer.  While this happens rarely, sometimes a former employer will keepmoney 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 healthcare Insurance because they have taken the C.O.B.R.A. option.  This may mean that your policy may not cover you as well as it used to.  You may suddenly be in the position of having a pricey plan that no longer covers you well.

Situations where COBRA is better than private healthcare Insurance:

When C.O.B.R.A. is much less pricey than a individual assurance plan

A individual or family health care insurance plan isn’t available to you

You are assured a health care assurance plan before your COBRA eligibility ends.

There are scenarios where COBRA might be a better option than a private medical care Insurance policy.  If you are  not able to acquire a health policy on your own at a good price and you find that your C.O.B.R.A. offer is reasonable C.O.B.R.A. may be your best options.  This of course is also true if you aren’t able to purchase a C.O.B.R.A. policy because of a pre-existing condition.  Another situation when COBRA may be a good option is if you will be eligible for Medicare and/or some other medical plan before your COBRA eligibility will end.

Alston J. Balkcom has been an insurance agent since 1985. He has helped hundreds of people find health insurance.

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