Don’t Shy Away From COBRA (It doesn’t bite)

Leaving a job to pursue something better, whether a new position, your own company or early retirement, should be one of the more exciting times of your life. But it can also be frightening. Financial insecurity comes with the territory, and lack of medical insurance is often part of it. But it doesn’t have to be.

The Consolidated Omnibus Budget Reconciliation Act, or COBRA, allows individuals and their families the right to purchase continuing coverage for a short period of time on the medical insurance policy being left behind with the old job. This temporary coverage can relieve some of the insecurity from your shoulders as you pursue the next stage of your life. To be eligible for this type of coverage, policyholders must be without coverage due to a specific list of events.

COBRA Offers Some Real Advantages
While this coverage is paid for out of the departing employee’s own pocket, and while these policies tend to be higher than the group policies offered to the employer, but is less expensive than individual health insurance. In addition, all illness and conditions covered by the employers policy continue to be covered in the COBRA plan, whereas with a new plan they might be considered preexisting.

Check out COBRA continuing health insurance coverage and compare it to the prices currently offered for new policies. InsureMeOnline.com can help you do both quickly and at no cost.