Individual Health Insurance VS COBRA
The article “Individual Health Insurance Quotes Better Than COBRA” from TransWorldNews has some great information about choosing between individual health insurance and COBRA. If you have lost your health insurance through your employer because of cut backs or job loss then you have the choice to shop around for your own individual health insurance policy or go through the COBRA option from your employer. It can be a tough decision.
COBRA will cover you if you lose your job by allowing you to keep the employer sponsored health insurance for up to 18 months and 9 out of the 18 mos will be at a discounted rate of 65%. The average health care premium in the US is reaching upwards of $1000 a month so the discount can help, but still may make the cost out of your price range. That’s when shopping around for health insurance quotes may pay off. Individual plans are often less expensive and they are customized to meet your individual needs.
Most consumers to do not realize the actual cost of health insurance since their employer often pays for a large chunk of it. The sticker shock is often enough to cause some stress once you start shopping around. It can be overwhelming so obtaining a health insurance broker may help. The most important thing is to ensure there is no lapse in your health insurance because that can cause hefty bills if something unfortunately happened to you during that uninsured window.
