Alternatives to COBRA
COBRA is an important option for individuals leaving a group health insurance plan. It allows eligible individuals to continue with the same carrier, same benefits and rates just a little higher than the existing group rates. You do not need to requalify for coverage to accept an offer of COBRA.
However, many find that the group rates are much higher than they can afford. If they are healthy and can pass medical underwriting then the traditional individual health insurance policy may be the best bet.
If you are considering an individual policy, remember acceptance is not assured. You should elect the COBRA so you know you will be covered. Then you can apply for an individial health insurance policy and see if you are accepted for the plan and rates that you applied for. If the new individual policy is issued, then you can cancel the COBRA.
Find Affordable Short Term Health Insurance
Do not cancel COBRA or any other coverage until you have been issued the policy that you applied for.
