COBRA Healthcare insurance vs Individual Health insurance

While  C.O.B.R.A. Insurance is often a good choice for many former employees, people often accept the COBRA option when there are better choices.  If compared to private health insurance, COBRA can be too expensive, it can conclude too early and it can put someone else in control of your policy.

C.O.B.R.A.     is often too pricey

COBRA is s short-term solution

C.O.B.R.A. is under someone else’s control

COBRA     is often too expensive

The  C.O.B.R.A. law gives you the right to be covered by a group assurance policy.  One of the more costly misconceptions individuals have about medical coverage is that group insurance policies are less costly than private health care insurance policies that you can acquire on your own.  Although this is sometimes true, it isn’t usually.  In a lot of states, healthcare coverage costs more if bought through an employer.  

This is because of the cost of governmental mandates that apply to group healthcare Insurance policies that don’t apply to individual medical care assurance policies.  A company offering a group coverage policy may have to offer a policy to anyone regardless of their healthcare history.  coverage companies cannot drop an insured person from their private medicalcare assurance policy simply because their medicalcare has worsened since they applied, but they may reject new people who are unhealthy.  This may mean that the insurance company’s costs are much higher for their group coverage policies than for their individual or family medicalcare coverage policies.

You may be offered the group insurance plan that you had before your job ended and/or if your company has made changes in the policies they offer to their current employees, it may be a different health policy.

C.O.B.R.A. is s short-term solution

In most scenarios, C.O.B.R.A. can be kept for a maximum of 18 months, however in certain scenarios, this time period may be extended to 36 months.  This may mean that your coverage can be over when you need it the most.  A good individual or family health insurance policy may cover you until you reach the age of 65.

You may be healthy enough to qualify for a long-term medical coverage policy when your job ends but not 18 months later.  If you or someone in your family develop a condition or have some other medical issue that keeps you from buying a policy at the end of your COBRA eligibility

COBRA is under someone else’s control

When you mail in your COBRA payments, you send them to your former company.  While this happens rarely, sometimes a former employer will keepmoney and fail to pay the insurance company.  

If your company changes the plans that are offered to their current employees, they may also change the plans available to those eligible for medicalcare Insurance because they have taken the C.O.B.R.A. option.  This can mean that your policy may not cover you as well as it used to.  You may suddenly be in the position of having a costly plan that no longer covers you well.

Scenarios where C.O.B.R.A. is better than family and/or individual health insurance:

When C.O.B.R.A. is much less pricey than a private Insurance policy

A private health Insurance policy isn’t available to you

You’re certain to get a medical coverage policy before your COBRA eligibility ends.

There are scenarios where COBRA is a better option than a individual medicalcare assurance plan.  If you can’t purchase a health care plan on your own at a good price and you find that your C.O.B.R.A. is being offered at a good price COBRA may be your best options.  This of course is also true if you can’tbuy a COBRA policy because of a pre-existing condition.  Another situation where C.O.B.R.A. may be a good option is when you will be eligible for Medicare or some other health care plan before your COBRA eligibility will end.

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