Is COBRA something beneficial?

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PostPosted: Fri Mar 22, 2013 11:13 am   Post subject: Is COBRA something beneficial?  

I work for a merchandise firm that deals in auto and my employer doesn't provide any sort of health insurance. Should I opt for COBRA? Is that something good for my condition?


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PostPosted: Fri Mar 22, 2013 8:59 pm   Post subject:   

Should I opt for COBRA?
COBRA is not a type of insurance, it is a federal law that permits a person to continue coverage under group health insurance (including dental and vision plans) when terminated from employment, or work hours are reduced (or any of four other "qualifying events" applicable only to spouses/dependents).

When continuing coverage under COBRA, one must pay 100% of the cost of insurance (and can be charged up to 2% additional by the former employer for administrative expense). Continuation under COBRA must be elected within 60 days of the qualifying event.

I don't think your situation is covered under COBRA unless you were covered by another employer's health insurance within the past 60 days.


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