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What Can COBRA Do For You?

Now more than ever the fear of losing your job, and the finances and health benefits that go along with it, is a very real scenario. However, the Consolidated Omnibus Budget Reconciliation Act (COBRA) can be a health benefits survival kit to a previously employed individual and any dependents. Take a closer look at the many benefits COBRA provides.

Under the devastating circumstances of a qualifying event, COBRA temporarily extends a previously employed individual’s health benefits. COBRA coverage extends 18 to 36 months past the date of the qualifying event. Even if an individual has a pre-existing health condition, COBRA won’t turn them away – it will instead offer that individual protection.

As long as a company of 20 or more employees offers employer-sponsored health insurance, in which that individual participated in until the qualifying event occurred, the employer is accountable for offering COBRA coverage. Previous employees are responsible for 100% of the COBRA coverage premiums, plus any minimal administrative costs. The employer will not cover the premium they previously did when the individual was employed.

Due to sensitive laws and regulations that surround plans like COBRA, BenefitMall encourages employers to allow us to handle its administration.  We are keenly aware of all COBRA regulations and fully educated in the administration of effectively managing these plans. BenefitMall has partnered with several accredited health insurance companies that offer COBRA plans and we would be happy to discuss those options with you. Please take a look at BenefitMall's product map to see which COBRA solutions are available in your state and give us a call today.

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