COBRA Alternatives
As you know, COBRA coverage allows individuals and families the right to continue their group health insurance coverage for up to 18 months if they lose their coverage due to being laid off for example. However, COBRA only protects people who work in companies with over 20 employees and if the organization is still in business. In addition, health insurance coverage via COBRA is very expensive.
There are more affordable health insurance options, and probably the best option if it is available to you, is to enroll in a spouse’s group plan as a dependent. If that isn’t an option, an individual health insurance plan from a private health insurance company would be a much more affordable option than COBRA, and it is likely that you would be able to find a plan that would allow you to continue to see the doctors that you currently use, and with a similar set of benefits. However, if you have pre-exisiting medical conditions, or are pregnant you may not have the option of enrolling in a new health insurance plan, at least at an affordable price, and sticking with COBRA might be your best option.
Regardless of what you choose to do when faced with this situation, you should never drop your current coverage before you have a new plan in place.
