COBRA Options

You lose your job and your employer sponsored health coverage. What do you do when you are unemployed?

In many cases, COBRA is an option. But there are situations when COBRA is not available.

If your employer has fewer than 20 employees, COBRA (at the federal level) does not apply. Many states have enacted their own "COBRA compliance" statutes that provide some continuation of coverage so you may have options even if you work for a smaller employer.

COBRA is an EXTENSION of the employer group plan. If the plan is terminated, you do not have COBRA options.

But here are some things you can do . . .

COBRA can be applied for in whole or parsed by family members who have conditions that cannot be covered with individual health insurance. Just because you are insured under your employer plan as a family unit does not mean that all family members must elect COBRA.

For many, a STM (short term medical) plan is fine. In Georgia, a STM plan is considered creditable coverage and can be used for up to 12 months to bridge you over to a new employer group plan. You can review STM plans by clicking THIS LINK.

Even though STM can cover you for up to 12 months, it is not advisable to keep it for more than 60 - 90 days.

You may want to have more options than are available in STM plans. Fully underwritten, traditional plans are available in many variations. You can run rates on roughly 140 different plans by clicking THIS LINK.

These are just a few options. For more information, visit my Resource page at Georgia Insurance Shop.