Short Term Health Insurance Blog
Thursday, May 23, 2013
When COBRA Costs Too Much, Try Short Term Health InsuranceFiled Under: Blogging
COBRA can be a very appealing option when you consider that it allows you to continue participation in the same healthcare plan you were a member of a while at your employer. Knowing you can stay with your current doctor and give your family the coverage they need is a great feeling. But the problem with COBRA is that the luxury of continued plan participation after your employment is discontinued comes with a very heavy monetary price.
The premiums associated with COBRA are very high, costing you as much as a thousand dollars for coverage that may have cost you a hundred during your employment. Who has that much extra money to spend on insurance these days? Short term health insurance for unemployed provides a great money-saving alternative. It is much more inexpensive than COBRA coverage, and it still provides you and your family with access to high quality medical treatment.
If you have been terminated from your job, or you have left your old job for a new one but are not yet eligible for group insurance coverage, do not assume that COBRA is your best option. Look at the costs and benefits of COBRA in comparison to short term plans, and decide for yourself which one makes the best fit for your family. You may be able to save significant amounts of money and still get superior care.