Navigating COBRA: How to Keep Your Health Insurance After Job Loss
Published in BenefitsWise
COBRA allows you to continue your employer-sponsored health insurance after job loss. Here’s how to navigate it:Understand Eligibility: Not all companies are required to offer COBRA. Know your rights and eligibility upfront.
Calculate Costs: COBRA can be expensive as you’ll likely pay the full premium yourself.
Act Quickly: You have a limited period (usually 60 days) after job loss to opt into COBRA.
Review Coverage: Make sure your COBRA plan meets your healthcare needs.
Consider Alternatives: Sometimes, marketplace insurance or Medicaid may be more cost-effective.
Keep Records: Document all communications concerning your COBRA coverage.
Consult Experts: Speak with a financial advisor to determine how COBRA fits into your budget.
Understanding COBRA can help you make informed decisions about health coverage during uncertain times.
Note: These articles are not a substitute for professional financial or legal advice. Always consult professionals for your specific needs.
This article was generated by Open AI with human guidance and editing along the way.
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