Researching Your Options With COBRA Health Coverage
If you are in the process of transitioning out of your current job, or social situation, COBRA health coverage is a viable option for those who wish to continue their benefits through their transition.
Tips For Applying With COBRA Options
When researching the different options available with COBRA health coverage through your life transition, keep a few of these points in mind:
• Notify both your insurance company and your employer about your transition with in less than 30 days in order to be eligible for COBRA benefits
• If you are separating or divorcing your spouse, you need to notify your insurance company in less than 60 days if your spouse or dependents are covered under your current insurance.
• If you are applying for COBRA research what your current premiums are and if you are able to afford COBRA through your transition
It is important to research the costs involved with COBRA benefits to make sure that its an affordable option during your transition. COBRA typically has a higher cost in that your employer no longer pays for part of the cost of your health coverage, but you get to retain the group benefits that you’re used to. Another benefit of continuing your benefits with COBRA is that you can usually apply for individual insurance once your COBRA benefits end. This a huge convenience in that you don’t have to prove that you can be insured, saving you on costly exams.