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COBRA Health Insurance: Why is It Important?

Because of the recent struggles in the economy, it is no longer surprising why there is already very little security when it comes to employment. Some lose their job while others are still struggling to find a decent employment. The most painful reality when it comes to losing job is the fact that one loses his health coverage as well. Luckily, there are available programs that help those who lose job extend their health coverage for a maximum of eighteen months after their termination, retirement or career change. COBRA Health Insurance is one of these programs. Officially called Consolidation Omnibus Budget Reconciliation Act, COBRA is a law designed to offer health insurance coverage to employees and their families after their ties with their employers were severed. Because of this, people still have a chance to get health insurance coverage even after they are terminated.

For you to avail of the benefits provided by COBRA Health Insurance, you need to be part of a group of at least twenty employees. Once you become part of that group, then you will be eligible to apply for the policy. In comparison to the health insurance policy purchased by your previous employer, COBRA insurance policy tends to be a bit higher. But despite its expensiveness, you are assured that you and your family are greatly protected whenever emergencies or serious health issues strike. Because of this, your mind will be at peace knowing that you and the members of your family are greatly protected. Another good thing about COBRA is the fact that it covers all pre-existing medical conditions for as long as these are covered and approved by your original health insurance plan. Other insurance providers may not allow pre-existing conditions to be included in their coverage which results to untreated major health conditions. Because of this, COBRA tends to be a very wise choice when it comes to health insurance.

COBRA Health Insurance is indeed a major help if you have recently lost your job and you heavily rely on insurance plans for the costs of your expensive medications. COBRA includes in its coverage the cost of prescription medicines and drugs and other services like accident insurance and maternity benefits. Because there are several people who cannot afford the cost of this type of insurance, certain alternatives are being provided to some of them. One of the alternatives is the individual and family health insurance plan which is known to be priced lower than that of the group plan. These individual and family health insurance plans are intended for those who are currently having a good health and do not have any pre-existing health problems. People who are not required to take any expensive medications are also benefited by this alternative. If you are among these individuals, then you can avail of all the benefits provided by COBRA at the lowest price possible. You can still protect your health even if you have been terminated from your job through this alternative. With this insurance coverage around, you can feel a real peace of mind knowing that you and your family's health are still greatly secured.

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