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Q: I've heard that the presidential stimulus package will be able to provide me with a significant discount on healthcare coverage. My last day of coverage was on 09/01/2008. I have high blood pressure and cholesterol and need to see my doctor on a regular basis, but have not been able too. I have no major health issues other that noted. I will only need coverage for myself.
A: Due to your pre-existing condition and the up keep on regular doctor visits, in your best interest would be to enroll with COBRA. COBRA is the name of a federal law. COBRA contains provisions giving certain former employees, retirees, spouses and dependent children the right to temporarily continue their health coverage at group rates. Your employer is required by law to offer you the continuation of their group health policy for up to 18 months if there are more than 20 employees. You will need to request a COBRA packet from your employer, sometimes the HR dept or benefits manager. They will send you an election form in the mail (they have 45 days to send it) for you to complete. Once you complete this form and return it with in 60 days, your insurance will be retro-active to your last day of employment. You will not have any lapse or gap in coverage.
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