Cheaper Alternative to COBRA
Monday, February 8th, 2010For many American families, COBRA coverage is still too expensive even with the current COBRA subsidy which is temporarily in place. The COBRA subsidy program pays 65% of the monthly premiums for up to 15 months, but still can require a substantial monthly expense, as the average family of four still pays on average $389 per month even with the subsidy.
A recent report by eHealthinsurance.com found that in twenty states, families could save $600 per year ($50/mo) by purchasing a family health insurance plan as oppose to opting for the COBRA coverage. Even with the subsidy!
The twenty states that were found to offer the affordable health insurance identified in the report include: Alabama, Arizona, Arkansas, Florida, Idaho, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Mississippi, Nebraska, New Mexico, North Carolina, Ohio, Oklahoma, South Dakota, Utah, Wisconsin, and Wyoming.
