How Can COBRA Health Insurance Help You?

​Do you have dependents? If you do, you need to find ways to provide for them. In this case, the source of income is your job. What do you think would happen if you suddenly lost your job? There’s a health insurance act called COBRA. What does it do? If you’re interested, read this article until the end.

Consolidated Omnibus Budget Reconciliation Act, often known as COBRA, is a health insurance program that aims to help the unemployed. Under this act, dependents of employees who lost their jobs may still be qualified for health insurance benefits.

What Does COBRA cover?
Companies pay part of their employees’ premium. What happens if the employee gets laid off or cannot meet the minimum required hours a week? The answer is that the employee can no longer pay for their part in the insurance. That’s where COBRA health insurance will come to the rescue. 

They will help former employees and their beneficiaries to have the same health insurance for a certain period. Included are spouses, children, and other declared dependents of the employee who will be offered continued health insurance. The coverage will include dental treatments, eye care, and medicine.

Who Are The Beneficiaries of COBRA?
The list below provides coverage for specific beneficiaries. 

1. Employees
   The first beneficiary is employees who lost their job, either through resignation or lawful termination. Another factor will be reductions in work hours that will result in loss of employer insurance.
2. Spouses
   Another beneficiary is the spouse or former spouse of the employee affected. They will have coverage if; they have Medicare, they’re legally separated, and if death comes upon the covered employee.
3. Dependent children
   Lastly, the dependent children will also be covered with the same benefits as the spouse but with a loss of dependent child status.

What Are The Coverages Of Cobra?
COBRA will offer coverage similar to what the employer originally has for their employees. Moreover, the continuation coverage may extend from 18-36 months, depending on events. These events might include separation from a spouse, which will make the former employee eligible for Medicare.

Conclusion
Under the COBRA coverage, beneficiaries will still enjoy the same pros of their health insurance like medication, consultation, and medical bills. Knowing these types of protection, how can COBRA coverage help you?

At Insurance Plans of America,  we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays, and we're here to help you out. Learn more about our products and services by calling our agency at (877) 752-6711. You can also request a free quote by CLICKING HERE.