Cobra is great if your sick, even if your not it can sometimes be appealing especially if you are over 50. But don’t fall into the trap of sticking with Cobra! Let me tell you a little story that was just told to me yesterday by a potential client.
In Utah where the economy is flailing under the weight of this recession the construction industry has been hit most painfully as you can guess. And this poor guy got laid off, and being that he was over 50 he elected Cobra. Why? Because the Cobra insurance plan came in cheaper for him. This is usually not the case but can happen when you work at a large company and are over 50 at a company with where the majority of the workforce is younger males. The older guy gets the benefit of the same rate class that the younger guys get. But this article is not about group health insurance premiums.
What is most sad, is that he was perfectly healthy at the time he elected Cobra and could have had his choice of Utah health insurance companies. Within a few months he developed cancer, and about a year after that, his Cobra expired. Now he is left with only one decision, go on a Cobra HIPAA conversion plan where the premiums are usually close to the 3 times the average health insurance premium.
So he called us yesterday and we gave him some solid advice but basically he left us searching for loopholes which we found of course, but many other people aren’t so lucky. This is why it is critical that you not take a Cobra if you can qualify for an individual health insurance plan.
I can go on and tell some even more gruesome stories of pain and suffering caused by Cobra, but will instead just give a piece of solid advice. Call us at 888-803-5917 for help figuring out the best coverage for you. We are happy to help you even if there is no commission involved, because frankly if we don’t do it no one else will. Seriously no one cares about your problems. I can tell you all the places that this guy called before reaching us and how awful the advice he received was, if he received any help at all. We will take the time with you to explain all of your options and are the only brokerage in this country that know everything about health coverage from Medicaid, to free clinics, to Cobra, and all state health insurance laws as well.
