What You Need To Know About COBRA Health Insurance

 

Everyone gets sick at some point in their lives. Some sicknesses can come at a time when you least expect and demand that you pay a hefty price for their treatment. Having a health insurance policy that can fully cater for or cover the larger part of your medical expenses can go a long way in saving your pockets from straining. Some employers sponsor health insurance for their employees. There are however times when negative things happen that make you lose your job or employer-sponsored healthcare. In such times, the consolidated omnibus budget reconciliation act (COBRA) law ensures that you keep your insurance as it demands that your employer allow you to maintain your current health insurance plan for some time. Read on to know more about COBRA health insurance.

 

Cobra Health Insurance offers great comfort to its subscribers. Imagine sickness striking you or your family member at a time when you are frustrated about having lost your job. Knowing that you are unable to afford healthcare for yourself or your loved one is a nightmare that no one ever wants to encounter in their life. The good thing about COBRA insurance is that it allows you a grace period during which you will maintain your current insurance plan while you look to find another job. If therefore illness strikes at that time, you can rest assured that your medical bills will be catered for.

 

You also need to understand that you ought to have worked for a company that had at least twenty employees for you to qualify for the COBRA health insurance. Unfortunately, individuals who worked for a company that had just a few employees are not eligible for COBRA health insurance. Also, you will benefit from the COBRA health insurance regardless of if you lost your job willingly or unwillingly. COBRA health insurance provides you with the same insurance coverage that your employer provided for you. For instance, if your employer-provided you with group health insurance coverage, so will COBRA insurance. However, instead of your employer, you will be required to cater for the entire cost of the insurance plan. Be sure to click here for more info!

 

It is crucial that you contact a COBRA health insurance agent for any inquiries that you may have concerning COBRA health insurance. You can easily find contact information on their website. The good thing about COBRA health insurance agents is that they are always ready to answer your queries and can provide you with a quote in no time in case you need it. To read more about the benefits of insurance, go to http://www.ehow.com/personal-finance/insurance/.