• 24
  Sep
  2010

• I Cannot Afford COBRA Payments - What Do I Do?

  
  Filed Under: Blogging
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When people lose their jobs, COBRA can be a really valuable asset to have on your side. Many people appreciate the convenience of this program. However, what you may not realize is that while this program is easy to sign up for and the benefits are attractive, the cost is often not.

You see, the way a COBRA policy works is that upon being terminated from your job, or when leaving voluntarily, you can opt into COBRA coverage. This will allow you to keep the same health insurance program that you had at your prior employer, which is very convenient.

However, this comes with a high cost. Your employer probably covers a pretty large percentage of the premium associated with your policy. So you are used to only paying the remaining amount, which is relatively affordable. But under a COBRA plan, you must now pay for the entire premium, which can cost upwards of one thousand dollars per month for a family. Short term health insurance provides an affordable alternative.

Under a short term health insurance plan, you can buy comparable coverage without such expensive premiums. So you can maintain the high level of coverage you need for your family and yourself, and do so without spending several times more than you paid while at your previous employer. If keeping costs reasonable while having access to great coverage matters to you, look into this smart solution,