COBRA - What a Joke - Can You Really Afford Employer HealthCare Insurance If You Lose Your Job?

You simply misplaced your job and your human sources consultant simply instructed you about COBRA (Consolidated Omnibus Finances Reconciliation Act). In concept COBRA is superior (when you qualify) it supplies an individual who develop into unemployed a option to keep lined by the previous well being insurance coverage. There are two issues to recollect about COBRA.

1. You'll be able to solely take part and be lined for 18 months
   2. In nearly each case, you need to pay 100% of the premiums as a result of the corporate does not assist pay for protection.

How does that break down for many Individuals? Lets rapidly study some information about the usage of COBRA and employer sponsored healthcare insurance: ... A person pays about $600 to $800 a month for continued protection beneath the COBRA act
... A household pays roughly $1250 to $1500 a month for continued protection beneath the COBRA act
... The typical individual on unemployment insurance clears $1334 a month
... Rather less than 20% of people who find themselves eligible for COBRA can afford to make use of it
... Most individuals have no idea concerning the COBRA "loophole" (Principally you have got 60 days to resolve if you wish to use the COBRA. Use can use The Insurance for 59 days.) In essence you will get $1200 to $1600 value of free Healthcare Insurance protection relying how a lot the premiums value. COBRA is just not an actual reply, even for momentary well being insurance; you will get inexpensive and cheaper protection. That is high quality Healthcare Insurance protection. You should buy your personal private or household well being Insurance Coverage that that may be custom-made and can higher fit your wants

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