COBRA: AKA - Consolidated Omnibus Budget Reconciliation Act
In layman’s terms, COBRA is simply the transfer of your previous group plan to you. Your group plan was probably being paid for, to some extent, the employer. But, now that you are no longer work for them, you are paying for that group plan. Group plans are very expensive – much more so than individual plans. Most folks don’t realize how expensive their group plan was until they lose their job and have to pay for it themselves (COBRA).
Pibal Broker Tip: Individual plans are often 20% to 50% less expensive than a Group Plan.
Check with us to see how you can spend less for the same or better insurance coverage.
Individual plans are often 20% to 50% less expensive than a Group Plan. What? You read that right. But still you may wonder: Why would an Individual/Family plan be less expensive than a Group Plan? Easy. Underwriting. You’re employer cannot ask health questions before they offer you group employer coverage. It is guaranteed issue regardless of you or your family health conditions.
It behooves Oregonians to use an independent agent or broker to help them locate a plan which will not only cover them but one to best fit their specific needs & budget. The rates are exactly the same and our services cost you no additional fees. The rates are set by law, we simply help you find the best plan at no additional cost!
If you are in a Short Term situation with one to six months without coverage, you might be best served by using a simple & affordable Short Term Medical Policy.
If you are looking at a period over six months or are planning on becoming self-employed, you might best be served by using an Individual/ Family Health Plan.
Please call 503-287-8808 or contact us now for more detail specific answers to you questions.