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From the category archives:

Individual Health Insurance

Cobra Health Insurance

by Steve

There are, unfortunately, some misconceptions regarding COBRA and its rules.  To begin with, COBRA is not a type of health insurance, but a law regarding health insurance coverage.  COBRA health insurance, then, is addressing the rules regarding the health insurance coverage under your (previous) employer.

When you have been laid off or leave your current employment, you may be eligible for continued coverage under the COBRA rules.  The rules state that the company is required to offer you the option to pay for the extension of your health insurance for at least 18 months.  COBRA is an acronym that stands for Consolidated Omnibus Budget Reconciliation Act, and was put into law in 1986.

If you are laid off, your employer has to let you know in writing about your rights under COBRA.  This includes the fact that you have 60 days from the notice date or the date your insurance ended to sign up for the coverage.  The one exception is if the company you worked for went out of business or bankrupt – in that case COBRA is not be available to you.

Signing up for a COBRA health insurance extension means that you will have similar health insurance and the same basic health plan benefits that you enjoyed during your employment.  The downside is that you will have to pay the entire health insurance premium that you previously only paid a portion of.  Before, your employer paid the majority (in most cases) of that monthly fee.  Now you will be responsible for the entire monthly premium and it can be very expensive.

Depending on your particular situation, you may not be able to afford the monthly premium as it can end up being 60-70% of your monthly unemployment check.  There are many workers that have been laid off that cannot take advantage of COBRA health insurance coverage extension because of the cost.

If this happens to be the case for you, there might be other health insurance options that you can utilize for you and your family.  As an example, if you and your family are healthy, then you should be able to find a high deductible health plan.  The good news is that you have 60 days to make a decision about taking the COBRA health insurance extension, so you have a little time to do some research online or make an appointment with your insurance broker to learn about options.

You can get more information regarding COBRA health insurance rules and regulation from the U.S. Department of Labor website or by calling 866-444-3272.  There is a FAQ page there that lists the latest update and has plenty of helpful information regarding COBRA.

Yuma Insurance – Steve Meinhardt

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Low Cost Yuma Health Insurance Plans

by Steve

Many times there are circumstances that make finding low cost health insurance plans necessary.  Changing jobs, graduating college or needing to supplement existing coverage all make it necessary to try and find the best health coverage at the lowest price possible.  When it comes to your health, finding the right plan can make a big difference.

When changing jobs, you can take a look at short-term health insurance policies to fill the time between employer sponsored coverage.  These are often also referred to as gap or temporary insurance and are designed to provide varying levels of coverage for specified periods of time.

These kinds of low cost Yuma health insurance plans can be very helpful in covering certain kinds of care, but often do have limitations that you will need to be aware of.  Make sure you understand exactly what is covered, and what is not.

If your circumstances have changed dramatically and you are no longer able to afford health insurance, you may be eligible for local, state or federal programs.  Start your investigation at the Foundation for Health Coverage Education, which is a not-for-profit organization that provides tools to assist you in finding low cost health insurance or alternative options in your state.  They have an Uninsured Hot Line at 800-234-1317 where you can speak to a live operator 24 hours per day and 7 days a week.

Other resources for low cost health insurance plans or free care are:

State-sponsored High Risk Pools – check with your state’s insurance department or consumer services for more information.

Community Health Centers – these are regulated by the federal government and provide care to those without health insurance have sliding fee scales based on income.

Free Clinics – are often staffed by volunteer physicians and nurses and also depend on donations from the community to run.

Yuma Health Insurance Plan Options

Call Steve Meinhardt for Yuma health insurance plan options – 928-217-3621

More than anything else, make sure that you are taking care of yourself.

Losing your job and having to investigate low cost health insurance can be stressful and frustrating.

Taking control of the situation can be helpful but you don’t have to do everything by yourself.

Ask friends and family for support, find local support groups for those who have been laid-off or talk to your doctor about your health insurance situation.  He or she might have ideas about cost saving measures for you.

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