Cobra Defined

Now since we know what Cobra is, I want to provide a little more insight on it so that those who are still in the workforce like me are a little bit more informed. The information below will also help Insurance Agents who may get questions from retirees who are aging in to Medicare and those who are losing their Employer Group Health Insurance Plan. Understand that Cobra only applies to non-government employers with 20 or more employees and it excludes churches. What employees pay can range up to 102% of cost of Insurance
Cobra Insurance:
• Is Used during transitional periods
• May continue for 11 months or longer
• May not exceed 36 months
• Beneficiary can continue coverage by enrolling into individual plan
• Can be obtained if your hours are reduced and you no longer qualify for a Group Insurance Plan

That is a little bit more about Cobra than the definition listed above discloses. I hope you feel a lot more informed about your options and if you are an Insurance Agent who will be answering questions during AEP(Annual Enrollment Period), then you may need to refresh on your Cobra knowledge. I hope this helps you like it did me. That’s all. Kudos…