Cobra Lower
Cobra Lower What kind of exhaust to put on a Mustang SVT Cobra? I am looking for an exhaust to put on my Cobra when I buy it. It will be somewhere in the years of 96-01. What are the differences ...
Cobra Lower
Cobra - What is it and Why is it so Expensive?
Cobra was started by the federal government. in an attempt to help citizens avoid an unnecessary lapse in health ins. when they leave an employer provided GROUP ins. plan.
It was never intended for people to use any longer than necessary much less than for the 18-month maximum period.
It is important to understand that cobra, as an extension of a Group plan is much more expensive than an individual plan of equal coverage. Why? Because like all group plans, it is a guaranteed issue insurance product. Therefore, higher risk financially to them, resulting in them being more expensive to the consumer. An Individual plan, fortunately, is medically underwritten which removes risk to ins. carriers and is therefore less expensive. Diabetics, for instance, must be insured under a more expensive group plan because they can not medically qualify for a lower priced individual plan.
Whenever someone is looking into acquiring their own insurance coverage, they owe it to themselves to get the best Individual plan possible for the money WHILE THEY ARE HEALTHY ENOUGH TO MEDICALLY QUALIFY. A person can ALWAYS go out and get themselves a group plan (at 2 to 400 % ) more premium per month . Why would anyone ever do this unless they had to? The second and most important thing to be aware of is that if a person uses of the full 18 mos. of their cobra plan and meanwhile has a change in their health”status,” they will be unable to qualify at the end of said 18 mos. unless they, yes, use the 63 day hippa law and yes PAY 200% ON THEIR PREMIUM.
We urge you to try and get with us on this A.S.A.P., because as we try and impress upon our clients for the reason previously stated, this should be the most "time sensitive" item on your "to do list." Unlike most activities and projects, we cannot schedule or pick a convenient time to require medical care.
Cobra comments
To all those considering leaving their job and their employee coverage.
Here is the most important thing to be aware of. If you are going to be responsible for paying for your own health insurance until age 65 when Medicare comes into play and picks up 80 % of any possible medical expenses then you want a PERMANENT PLAN A.S.A.P.
Let me elaborate with an example. One of our clients took out a plan in 8/2001 at 248 per month. That plan now is at 667 per month. "So, why doesn't he drop it for another?" Because while on that plan he had a change in his health condition and now the only other plan that he would qualify for is a Group health insurance plan. Which back in 2001 would have started at over 1000 per month.
Cobra really only covers you for that "one big hit." Then you leave it with a pre existing condition where you either don't qualify for an individual plan, or in the case of Cobra, as long as you don't wait 63 days from it's expiration, where you would be out of the Individual health insurance market ... you get to pay double premium.
Cobra was designed only to avoid an immediate lapse in coverage when leaving a group plan. Not to be used any longer than necessary. Especially if you do not have another group plan waiting on you.
About the Author
Joseph Jessome is the director of www.SmartHealthIns.com. Joe is a subject matter expert on the topic of individual health insurance. Currently licensed in 14 states and he has been in business close to 11 years. Smart Health Insurance Inc. prides itself on the highest level of continued service possible. For more information on health insurance and the service we offer please visit our websites, www.Texas-health-insurance-1.com, www.Alabama-health-insurance-1.com, www.Florida-health-insurance-1.com. Or contact Joe Jessome directly at 800-828-2950 director of Smart Health Insurance Inc.