Choice Enrollment Blog
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Losing your job can be overwhelming, especially when it comes to maintaining health insurance. Fortunately, the Consolidated Omnibus Budget Reconciliation Act—better known as COBRA—offers a way to continue your employer-sponsored health coverage even after your employment ends. What Is COBRA?
COBRA is a federal law that allows employees and their families to keep their group health insurance plan for a limited period after experiencing certain qualifying events, such as job loss, reduction in work hours, divorce, or death of the covered employee. Who Qualifies for COBRA? You may be eligible for COBRA coverage if:
Note: Termination due to gross misconduct may disqualify you from COBRA. How COBRA Helps You Maintain Health Coverage Here’s how COBRA benefits you during a period of job loss:
How Long Does COBRA Coverage Last? Typically, COBRA allows for:
What Does It Cost? Under COBRA, you pay the full cost of your health insurance premium—including the portion your employer previously covered—plus a 2% administrative fee.
While this can feel expensive, it may still be more affordable than private health plans, especially if you have ongoing medical needs. Alternatives to COBRA If COBRA is too costly, consider these options:
How to Enroll in COBRA After your job ends:
Final Thoughts COBRA can be a lifeline during uncertain times, ensuring you and your family don’t go without essential health coverage. While it may not be the cheapest option, it offers continuity and peace of mind while you transition into your next chapter. Remember: Carefully compare COBRA with other available options to choose what’s best for your health and your budget. At Choice Enrollment, we strive to provide our customers with reasonable rates and comprehensive coverage. We will exceed your expectations to assist you with whatever you need. If you have any concerns or want a free quote from our agency, don't hesitate to contact us at (719) 581-5527 or CLICK HERE. Disclaimer: The information presented in this blog is intended for informational purposes only and should not be considered as professional advice. It is crucial to consult with a qualified insurance agent or professional for personalized advice tailored to your specific circumstances. They can provide expert guidance and help you make informed decisions regarding your insurance needs.
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