| In this day when companies are facing
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| | event, though, you may still be able to
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| layoffs, buyouts, and other financial
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| | get your health insurance coverage
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| difficulties, it may be difficult to hold
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| | through HIPAA.
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| on to a good health insurance policy.
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| | Application Time Is Limited
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| Thanks to the government, however, there
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| | After a qualifying event occurs, you need
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| has been a couple of programs that will
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| | to act rather fast because there is not a
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| allow you to keep the same coverage you
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| | lot of time given in which you need to
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| had before your situation changed, if you
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| | apply for the COBRA program. You must act
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| act soon enough. Here are some things you
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| | within 30 days of the event by informing
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| need to know about the COBRA program that
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| | the insurance plan administrator (the
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| could enable you to enjoy the same health
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| | employer) of your intent to continue the
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| insurance coverage you had.
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| | coverage. It is best that you do it in
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| COBRA, which stands for the Consolidated
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| | writing, for your own records. After you
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| Omnibus Budget Reconciliation Act,
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| | notify them, they will send you a letter
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| enables you to keep the same coverage for
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| | within 14 days, and then you have up to
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| up to 18 months. In some cases, this time
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| | 60 days to decide if you will accept the
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| period may be extended for an even longer
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| | COBRA coverage.
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| period of time for dependents.
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| | The Premiums
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| Qualifying Events
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| | While you are able to continue the
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| In order to qualify for this program,
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| | coverage that you had prior to the event,
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| participants have to meet certain
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| | there is a major difference that also
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| qualifications. The good news is that the
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| | takes place. Whereas the employer paid a
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| conditions for COBRA are rather lenient.
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| | part of the premiums previously, now it
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| If you were an employee, and are now out
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| | becomes entirely up to you to meet the
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| of work, you may qualify, even if you
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| | full price. So, there may be a little
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| were fired, or laid off. The exception is
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| | sticker shock, because it will not be
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| if you were extremely negligent in your
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| | cheap. Since group insurance is usually
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| duties, or performed some act of
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| | much less expensive, you may be surprised
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| misconduct that got you fired.
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| | at just how much the employer was paying.
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| Other qualifying situations may occur in
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| | The Coverage
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| the event of a divorce or the death of
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| | One of the great benefits of using the
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| the employee. Sometimes there may also be
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| | COBRA health insurance coverage is that
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| a separation involved, or the employee
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| | there most likely will not be any
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| may retire, or go on Medicare. In cases
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| | preexisting conditions given since you
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| like this the coverage may be extended
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| | were already covered before. This means
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| for periods up to 36 months. One
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| | that your coverage continues without any
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| situation, however, where coverage will
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| | hitches; hopefully, and you can then
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| not be given, is in the event that the
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| | continue to enjoy what you had before.
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| company goes out of business. In that
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