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COBRA ALTERNATIVE

A key decision that many California residents face each year is whether to elect a COBRA plan or COBRA alternative health care continuation coverage plan when they lose employer health plans. About two thirds of all Americans are covered by employer provided health coverage but with the recent increase in layoffs across the country, and especially in California, the number of workers losing health benefits is at record highs. Workers typically have three or more options available and the cost can vary dramatically between the various choices available. Some may opt to take no health insurance coverage and bear the financial risk themselves.  Most will suggest that no family be without some form of health coverage but with the expense of a COBRA plan some may not be able to afford this type coverage. 

With a business that has more than 20 employees, an employer must offer some type of COBRA plan to its previous employee for a specific amount of time, normally not to exceed six months.  COBRA alternative plans are those that are temporary plans.  If you are healthy and not being treated for a medical condition that started before your group plan ended, you may have no choice but to use their expensive COBRA plan, but if you are healthy and need coverage only until you find full time employment, a COBRA alternative could something simple like a six month temporary plan that will cover you and your loved ones in case of an accident or illness. Being without coverage is the only decision that may be unwise for you at this time.  At Insurnow we have several different options to choose from as a COBRA alternative and can assist you today.