Wednesday, January 25, 2012

COBRA Insurance

Chris Wodke

COBRA is short for Consolidated Omnibus Budget Reconciliation Act of  1985.  The act provides for insurance for qualified workers, spouses and dependent children.  COBRA provides for a continuation of health insurance when leaving a job or in the event of divorce or death.

If you leave a job or are terminated for reasons other than gross misconduct you are guaranteed by law the right to continue the health coverage of your former employer.
The coverage will last for up to 18 months at your own expense.  The government is not picking up about 60% of the cost of the COBRA for unemployed workers.  If the coverage is still too expensive check out high deductible plans with insurance companies like Aetna, Blue Cross, Pacifiecare, Assurant, Kaiser Permanente and Humana.



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