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- This is Where to Start when considering COBRA Insurance
This is Where to Start when considering COBRA Insurance
- By DS Kennedy/ COBRA Insurance Expert
- Published 03/14/2007
- Employee COBRA Information
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I, or My Dependents, Have Small or No Medical Conditions (Less Than $1000 in Annual Medical Expenses
Good News, You have many options and alternatives available to you. First off, your former employer will be sending you a COBRA notice within 60 days of your last date of employment. Keep this Notice it is very important.
You can either elect to keep your employers coverage(the cost will be outlined in the COBRA notice they send you), or buy a COBRA Alternative plan. The COBRA alternative plan will be 40%-75% less costly than your former employers’ coverage. You will find that COBRA alternative plans will have the same benefits as your old plan. With the COBRA alternative plan there is no Doctor or Hospital restrictions so you can keep all your existing providers.
Make sure that the plan you select is qualified as “Creditable Coverage”. Without it being qualified as “Creditable Coverage” you may have a lapse in coverage when you move to a permanent plan with your new employer. You will recognize plans with Credible Coverage by this logo.
You can find many different programs with "Creditable Coverage" by following this link. Creditable Coverage Qualified Plans.
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