Understanding COBRA Insurance – Not Many Do
Don’t go into heart failure if you just lost your job. There is a law that makes you eligible to keep your medical coverage while you look for work. The federal COBRA law makes you eligible for continual health coverage for those already covered on your insurance. This is very important to make sure that people who are just divorced or have had a death in the providing family member have the bridge coverage they need. When either leaving a job or being let go from it, you are eligible to keep receiving benefits from your employers plan for 18 months by paying the premium yourself, That amount would otherwise have been deducted from your paycheck. The COBRA law is only for work related insurances, personal plans are not covered. Anyone who was working and had medical coverage at the time of being dismissed or leaving is by law required to be offered the option to hold onto their benefits at their own expense till the allotted time runs out of they have new coverage, which ever comes first.
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Topic: Health Insurance
