COBRA health insurance coverage:

COBRA is a law that allows employees (not terminated for gross misconduct) and their immediate family to continue their group health coverage for up to 18 months after termination.

Disadvantages of COBRA:

  • Your premiums are no longer subsidized by your employers
  • You must have group insurance coverage to be eligable for COBRA
  • Only the employee, spouse and dependents are eligible
  • Companies with fewer than 20 employees may be able to claim an exemption from COBRA
  • Coverage ends after 18 months or if your employer ends his group coverage
  • COverage only starts the day you sign up
  • Medical expenses incured before you enrolled in your COBRA plan will not be covered.
Advantages of COBRA:

  • If you die, divorce or become legally seperated, your spouse and dependents are eligible for 36 months
  • If you are terminated or have an hour reduction (usually to part tiem status without benefits) you can continue coverage for 18 months

    When should you sign up for COBRA?

    • If you are terminated with a serious pre-existing condition
    • If you or your spouse are pregnant
    • If you are on expensive long term medications

    • Note: Under HIPPA, you can continue coverage even with a pre-existing condition if your COBRA plan has run out.



    All rights reserved. Copyright © Craig Casey 1998.
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