Carmen knows that going without health insurance can be a financial disaster to her family, so when she lost her job as a sales person she looked at all her options. Carmen has no idea how long she may be out of a job so she does not want to go uninsured.
Carmen knows she has the COBRA insurance option. She also knows how expensive it can be. COBRA mandates that an employee can keep their health insurance for up to 18 months if they become unemployed for any reason.
COBRA insurance typically has a big price tag. Once the employer takes away their contribution and add admin fees the premium could double. Many people find this price tag hard to handle.
Before opting out of COBRA you should loo at your health. Carmen has high blood pressure and has to take 2 medicatins. She is also expected to make regular visits to her doctor. Her husband however is very healthy!
Since Carmen has a pre exisitng condition she would want to take advantage of the COBRA option. Because tempoary health insurance excludes any pre existing conditions.But, if she would like to save money she could find a alternative for her healthy husband.
There are a few factors to consider besides health. Although health is a very important one. Here are a few things to consider as well:
1. Temporary helath insurance is just that....temporary. So if you purchase 6 months and then find you need it 12 months you may be trying to find more coverage at the last minute. So you should consider this.
2. Temporary health insurance does come with exclusions. It is not going to cover any pre existing conditions. Hence, the reason it is not a good idea for Carmen. If her husband develops an illness and then you have to extend the temporary insurance he will no longer be covered for that illness.
3. Temporary health insurance typically have high deductibles. These plans are meant as a sfeguard. Just in case you get an illness that has much expense. It is not meant for the occasional office visit, so you can expect to pay that out of your pocket.
Carmen knows she has the COBRA insurance option. She also knows how expensive it can be. COBRA mandates that an employee can keep their health insurance for up to 18 months if they become unemployed for any reason.
COBRA insurance typically has a big price tag. Once the employer takes away their contribution and add admin fees the premium could double. Many people find this price tag hard to handle.
Before opting out of COBRA you should loo at your health. Carmen has high blood pressure and has to take 2 medicatins. She is also expected to make regular visits to her doctor. Her husband however is very healthy!
Since Carmen has a pre exisitng condition she would want to take advantage of the COBRA option. Because tempoary health insurance excludes any pre existing conditions.But, if she would like to save money she could find a alternative for her healthy husband.
There are a few factors to consider besides health. Although health is a very important one. Here are a few things to consider as well:
1. Temporary helath insurance is just that....temporary. So if you purchase 6 months and then find you need it 12 months you may be trying to find more coverage at the last minute. So you should consider this.
2. Temporary health insurance does come with exclusions. It is not going to cover any pre existing conditions. Hence, the reason it is not a good idea for Carmen. If her husband develops an illness and then you have to extend the temporary insurance he will no longer be covered for that illness.
3. Temporary health insurance typically have high deductibles. These plans are meant as a sfeguard. Just in case you get an illness that has much expense. It is not meant for the occasional office visit, so you can expect to pay that out of your pocket.
About the Author:
If you are need of temporary health insurance or would like to know more about your choices call Broker Jeff Cline. He is an expert at COBRA replacements. If you need a more permanent individual health insurance he can help you with that also. He can be contacted anytime at his toll free number 866.526.9669.
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