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.
Due to the cost of COBRA insurance many people look to the alternatives like temporary health insurance. Carmen and her husband were on her employer sponsored plan. Her husband is very healthy. Carmen has high blood pressure and requires medication and regular MD visits.
Pre exisiting conditions are excluded on temporary health insurance plans. So Carmen may decide to take the COBRA to cover her high blood pressure. Since Jose, her husband is healthy she can find an affordable temporary plan for him.
Before committing to a temporary health insurance plan there are a few factors to closely consider. Temporary health insurance can be an excellent alternative, but does have some drawbacks.
1. You can typically only purchase temporary health insurance for a short amount of time. 6 months to a year max. So if your period of being uninsured is prolonged you could find yourself looking for other alternatives.
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 was designed to be a major medical safety net. It is not going to cover the common visit to the doctors office. The plans usually have high deductibles to meet also. So you can expect to pay some out of pocket costs.
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.
Due to the cost of COBRA insurance many people look to the alternatives like temporary health insurance. Carmen and her husband were on her employer sponsored plan. Her husband is very healthy. Carmen has high blood pressure and requires medication and regular MD visits.
Pre exisiting conditions are excluded on temporary health insurance plans. So Carmen may decide to take the COBRA to cover her high blood pressure. Since Jose, her husband is healthy she can find an affordable temporary plan for him.
Before committing to a temporary health insurance plan there are a few factors to closely consider. Temporary health insurance can be an excellent alternative, but does have some drawbacks.
1. You can typically only purchase temporary health insurance for a short amount of time. 6 months to a year max. So if your period of being uninsured is prolonged you could find yourself looking for other alternatives.
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 was designed to be a major medical safety net. It is not going to cover the common visit to the doctors office. The plans usually have high deductibles to meet also. So you can expect to pay some out of pocket costs.
About the Author:
If you are need of temporary health insurance or would like to know more about your choices contact Broker Jeff Cline. He is an professinal 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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