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Is COBRA a Good Option For You?

Posted on: September 24th, 2012 by Kristen Marie

nurse and child

Most people have a million things on their minds when they lose their jobs – How I am going to pay my bills? How do I find another job? What do I do now? and eventually What am I going to do about health insurance? Is COBRA right for me? It’s a scary position to be in and can feel very overwhelming. But hopefully we can help alleviate some of the stress about determining what to do about health insurance and COBRA.

COBRA is best for…

In most situations COBRA insurance is best for people who:

  • Have a preexisting condition and are likely to be denied from other plans
  • Are pregnant or plan on becoming pregnant
  • Have had surgery recently or plan to have surgery in the near future
  • Have been denied from a health insurance plan before
  • Lead a high risk lifestyle
  • Are over the age of fifty who may be denied from another plan
  • Take expensive medication
  • Can afford the premiums and do not want to deal with a change in insurance

A COBRA alternative is best for….

Alternatively there are many people who don’t necessary need COBRA and can likely save money if they find a new plan. You should look at an alternative to COBRA if:

  • You are young and generally healthy
  • You do not use your health insurance often
  • You do not have a preexisting condition
  • Qualify for state or federal health insurance
  • You can use a spouse’s insurance plan
  • You want to save money
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