Is Cobra Health Insurance?
1976 POINTSview profileRonald HinchRegional Marketing Director, Capital Choice Financial Group,Yes, Cobra is true medical insurance and is an interum policy that a person is eligible for when losing a job that included group medical insurance for the emplyees. It is normally very expensive especially when the company may be paying the premium as a benefit and only lasts 18 months. With the ACA plans a layed off or terminated emplyee may be able to pick up a much more affordable plan as he or she qualifies for the special conditions event and can pick up coverage outside of open enrollment. Any questions please contact the Hinch Financial Group @ 843-450-9879 or visit my website @ www.hinchfinancialgroup.com.Answered on January 27, 2015flag this answer
5527 POINTSview profileMarlin McKelvyPresident, Consumer Directed Benefit Solutions, Memphis, TennesseeCOBRA is simply continuing the existing group health insurance coverage that you had been covered under with your former employers health plan when you were employed there. The only difference is that you would have to pay the entire monthly insurance premium as no employer contribution is required for COBRA continues. By definition then, COBRA coverage is health insurance.Answered on March 5, 2015flag this answer
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