Is COBRA something beneficial?

Message Author
ampm-bookmark
delicious-small Add to delicious
yahoomyweb-small Add to YahooMyWeb
blinklist-small Add to BlinkList
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?



_________________

Owning a home is a keystone of wealth - both financial affluence and emotional security. ~ Suze Orman
MangoQurious
Senior member
Leave a quick message

MangoQurious

Joined: 12 Mar 2013
Posts: 270

Location: Sacramento, CA
61.23 Dollars($)

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

Quote:
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.


_________________

CA-licensed Life & Disability Analyst. CA Insurance Lic #0596197. Also investigating insurance company abuses, and providing litigation support/expert witness services. Send me your questions, and I'll send you my answers.
MaxHerr
Forum Expert
Leave a quick message

MaxHerr
Forum Expert

Joined: 29 Nov 2009
Posts: 7888

Location: Pomona CA
107.61 Dollars($)

All times are GMT
Page 1 of 1


Get free auto insurance quote
State Auto Insurance Laws in USA

USA Auto Insurance laws
Ask Community Experts

flash plugin

Quick Links

Must See

Community

Hot topics in forums

Latest in blogs

    Connection Error: Connection refused