Did you know that employer based health insurance provides coverage for over ten million Americans? That is a big number, don’t you think? Do you know what happens if those employees lose their jobs, quit, retire, or their company goes out of business? They will simply lose their coverage and be in need to health insurance. At this point, if one of these things happens to you, you have two options. One, you can research and find your own insurance plan, or you have the option to get COBRA insurance.
If you are in good health, you shouldn’t have any problem finding an open enrollment health insurance policy for you and your family. You should also have no problem finding competitive premiums either. If you are in poor health, it might be a little bit harder to obtain insurance. Because you pose a high risk for health problems, insurance companies are less likely to insure you or charge you a premium so high that you cannot afford it.
It is important to begin looking at your options as soon as you lose your employer covered health coverage. COBRA is great because it allows you up to 18 months of health coverage while you find a new plan. You should begin looking for your new plan right away because of health or injury concerns. You never know, you might not qualify for a health plan in two month that you would have been able to qualify for right when you lost your job.
In summary, it is crucial that you always are insured in case of an accident or illness. You should obtain this health coverage while you are in good health. Once you obtain coverage, you can keep it as long as you need it. The insurance company cannot drop you after you are insured by them.
In summary it is always advisable to obtain permanent health insurance coverage while you are in good health. Once accepted, you can keep this coverage for as long as you need it. If you rejoin a group plan later, you may elect to drop the coverage or maintain it if you feel that you have a superior plan.