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All You Need to Know About a Cobra Health Insurance

Losing a job is something that anyone doesn't want to experience. Regardless of this though, it is these things that can really happen. And when that comes, it is this one that can bring about a lot of disadvantages. One of the causes, if you lose your job, is that you will also lose the health insurance that you will have. This is the very reason why the government placed safeguards to protect an individual. This safeguard is called the COBRA or the Consolidated Omnibus Budget Reduction Act. It was this one that was started in the year 1985 for people that were disabled. It is this one that allows the remaining family members to enjoy the continued coverage. That is why if you are looking to utilize the cobra insurance alternatives, then it is you that should know some things about it.

Once you started employment then it is the employer's responsibility to inform your cobra health insurance rights. It is this information that should be provided before you begin your job. This is also being reminded to you once you lose your group health coverage. You need to know that once you want to avail of the benefits of what the COBRA brings, you will have at least 60 days to decide if the COBRA is your best option. Once you have decided to utilize COBRA then you will be given 45 days from the date so that you can start with the initial payment. Once your COBRA initial payment is done, all the payments that you will be doing afterward should be on the first of each month. There are laws that protect the insured individual once they are not able to pay their premiums on time. The insured individual is given a 30-day grace period without losing health coverage.

Once you will be opting for a COBRA health coverage than it is your employer that doesn’t have the responsibility to pay it for you. It is you that should ensure that your payments are done on time. There are important guidelines that you should remember when availing of this health coverage. One of the things that you need to remember is that you will no longer have coverage once you fail to pay within the 30-day grace period. It is also you that will not be covered by the COBRA once you get another coverage plan. Once your employer will send the group health coverage to all employees then that is also when the COBRA coverage ends.
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