Even though COBRA insurance is a good option for a lot of people,
people often take their C.O.B.R.A. option when it's not the best deal.
If compared to family or individual health insurance, C.O.B.R.A. can
cost more than other options, it can end too early and it may put
someone else in control of your policy.
COBRA is often too pricey
C.O.B.R.A. is s short-term solution
COBRA is under someone else's control
COBRA is often too expensive
The COBRA law gives you the right to be covered by a group insurance policy. One of the biggest misconceptions people have about medical coverage is that group coverage policies are less costly than private health Insurance policies that you can buy on your own. While this is sometimes true, it isn't usually. In a lot of states, medical care insurance costs more if purchased 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 individual or family health assurance policies. A company offering a group coverage policy may have to offer a policy to anyone regardless of their medical care history. insurance companies cannot drop an insured person from their family and/or individual healthcare Insurance plan simply because their medical care has gotten worse since they applied, but they won't take new people with pre-existing conditions. This may mean that the insurance company's costs are much higher for their group insurance policies than for their individual medical care assurance policies.
You may be offered the group insurance policy that you had before your job concluded or if your company has made changes in the policies they offer to their current employees, it may be a different medical policy.
C.O.B.R.A. is s short-term solution
In most situations, C.O.B.R.A. may be kept for a maximum of 18 months, however in certain situations, this time period may be extended to 36 months. This can mean that your coverage may be over when you need it the most. A good individual and/or family medical care Insurance plan can cover you until you reach the age of 65.
You may be healthy enough to qualify for a long-term medical coverage policy when your job ends but not 18 months later. If you or someone in your family contract an illness and/or have trauma that prevents you from buying a plan at the end of your C.O.B.R.A. eligibility
COBRA is under someone else's control
When you mail in your COBRA payments, you don't send them directly to your insurer. Although this happens rarely, sometimes companies will take your money 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 medical care coverage because they have taken the COBRA option. This can mean that your policy may not cover you as well as it used to. You might suddenly be in the position of having a high-priced plan that no longer covers you well.
Scenarios where C.O.B.R.A. is better than family and/or individual medical insurance:
If COBRA is much less costly than a individual and/or family Insurance plan
A individual and/or family health insurance policy isn't available to you
You're assured a healthcare coverage plan before your COBRA eligibility ends.
There are situations where C.O.B.R.A. might be a better option than a family or individual health Insurance policy. If you can not buy a medical plan on your own at a good rate and you find that your C.O.B.R.A. is being offered at a good price C.O.B.R.A. may be your best options. This of course is also true if you aren't able topurchase a C.O.B.R.A. plan because of a preexisting health issue. Another situation where C.O.B.R.A. can be a good option is if you will be eligible for Medicare and/or some other healthcare plan before your COBRA eligibility will be over.
COBRA is often too pricey
C.O.B.R.A. is s short-term solution
COBRA is under someone else's control
COBRA is often too expensive
The COBRA law gives you the right to be covered by a group insurance policy. One of the biggest misconceptions people have about medical coverage is that group coverage policies are less costly than private health Insurance policies that you can buy on your own. While this is sometimes true, it isn't usually. In a lot of states, medical care insurance costs more if purchased 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 individual or family health assurance policies. A company offering a group coverage policy may have to offer a policy to anyone regardless of their medical care history. insurance companies cannot drop an insured person from their family and/or individual healthcare Insurance plan simply because their medical care has gotten worse since they applied, but they won't take new people with pre-existing conditions. This may mean that the insurance company's costs are much higher for their group insurance policies than for their individual medical care assurance policies.
You may be offered the group insurance policy that you had before your job concluded or if your company has made changes in the policies they offer to their current employees, it may be a different medical policy.
C.O.B.R.A. is s short-term solution
In most situations, C.O.B.R.A. may be kept for a maximum of 18 months, however in certain situations, this time period may be extended to 36 months. This can mean that your coverage may be over when you need it the most. A good individual and/or family medical care Insurance plan can cover you until you reach the age of 65.
You may be healthy enough to qualify for a long-term medical coverage policy when your job ends but not 18 months later. If you or someone in your family contract an illness and/or have trauma that prevents you from buying a plan at the end of your C.O.B.R.A. eligibility
COBRA is under someone else's control
When you mail in your COBRA payments, you don't send them directly to your insurer. Although this happens rarely, sometimes companies will take your money 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 medical care coverage because they have taken the COBRA option. This can mean that your policy may not cover you as well as it used to. You might suddenly be in the position of having a high-priced plan that no longer covers you well.
Scenarios where C.O.B.R.A. is better than family and/or individual medical insurance:
If COBRA is much less costly than a individual and/or family Insurance plan
A individual and/or family health insurance policy isn't available to you
You're assured a healthcare coverage plan before your COBRA eligibility ends.
There are situations where C.O.B.R.A. might be a better option than a family or individual health Insurance policy. If you can not buy a medical plan on your own at a good rate and you find that your C.O.B.R.A. is being offered at a good price C.O.B.R.A. may be your best options. This of course is also true if you aren't able topurchase a C.O.B.R.A. plan because of a preexisting health issue. Another situation where C.O.B.R.A. can be a good option is if you will be eligible for Medicare and/or some other healthcare plan before your COBRA eligibility will be over.
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