We are getting a lot of questions about COBRA at OneVoiceInsurance.com. If you have recently been laid off, were under a group plan and are trying to understand your choices for continuing health insurance coverage, COBRA can be a very expensive option, as you have to pay your part and also the part that your employer used to pay, often doubling the cost of your health care in an instant. All this while you are looking for a new job and need to save money. Depending on your medical history, though, COBRA might be a good choice and you will have 60 days to decide whether to elect COBRA continuation coverage. Insurance is not a one-size-fits-all product. Seek out professional advice that will not cost you anything.
A word of caution and some tips: Nothing is more expensive than getting caught uninsured in a major medical event. Bills will follow you for years and according to researchers at Harvard, over half the bankruptcies in the country are due to upaid medical bills. If you are healthy, you may want to consider moving to an individual or family policy with a major insurance company. If you are self employed, there may be group options available to you. Talking to a broker who can help you navigate your choices is the smart thing to do, because your goal is to save money while you get back to work. Always compare the benefits you will get before the deductible and what the annual maximum out-of-pocket is, so you can compare what your financial risk really is. For more: email firstname.lastname@example.org