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Cobra Alternatives
As much as people try to plan for every twist and turn that life throws their way, there’s no accounting for everything. This is especially true when it comes to jobs and insurance. COBRA (The Consolidated Omnibus Budget Reconciliation Act of 1985) was federally enacted to allow workers and immediate family members to qualify for extended insurance coverage in occurrence of a qualifying event.
COBRA is an insurance alternative for those who are injured, between jobs, or for one reason or another are unable to obtain insurance through work or other means. In essence, it is the perfect buffer for those who are between regular healthcare providers, when a medical emergency would otherwise spell financial disaster.
As helpful as a COBRA plan can already be, there are also COBRA alternatives available for those who find the regular plans too expensive. There are plans and prices to meet the health and financial needs everyone requiring coverage. Plans can include partial coverage options, as well as full coverage plans of varying degrees. The essence of COBRA is flexibility, so most everyone should be able to find an option to assist them.
COBRA also offers Short-Term Health Insurance alternatives, for those who need insurance for a period of less than 6 months. Such plans are cheap and flexible, and can be tailored to fit a time frame that is ideal for the COBRA member, ranging from 0-6 months. Long-term plans are available for periods of 6+ months.
COBRA also offers the perfect first-time plan for students who are coming off their parents' plan for the first time. It's the perfect alternative for students who want to avoid taking campus insurance plans.