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Oklahoma COBRA Insurance
If you do not qualify for federal COBRA, you have an additional option to get coverage through Oklahoma COBRA insurance. The OK COBRA program works exactly the same as the federal program by providing people and family members the option to maintain the same health insurance plan after voluntary or involuntary job loss. Under this plan, if you choose to sign up, everything about your health insurance plan will remain the same, including networks of doctors, prescriptions, deductibles, and copayments because you will still be on the employer sponsored plan. What will change are the cost of the insurance and the length of time you can stay on the plan.
Finding Out if You Qualify for Oklahoma COBRA Insurance
Determining if you are eligible for enrolling for COBRA in Oklahoma is a relatively easy process. The easiest way to determine if you can enroll is to ask your former employer or health insurance company. You can also determine it on your own by looking at the following COBRA requirements.
- You were not eligible for federal COBRA insurance.
- You are the employee, their spouse, or their dependent. Under the law this is known as a qualifying beneficiary.
- You or the employee either lost their job voluntarily (quitting or retirement) or involuntarily (being laid off or fired) without serious offense. This is known as qualifying event.
- The plan you or the employee had while they were employed had more than two and less than nineteen employees on it and it is still in existence. This is known as qualifying plan.
Figuring Out the Cost of Oklahoma COBRA
Figuring out how much COBRA will cost is also a relatively easy thing to do, although most people are shocked by the cost once they determine it. To find out how much COBRA will cost you need to add together both what you paid for insurance and what your place of business paid for your plan. This information is located on your pay stub. When you add those together you get the monthly premium. You will have to pay that total amount plus a 2% charge for processing.
Understanding How Long COBRA in Oklahoma Lasts
While the national plan provides coverage for 18 months on your prior employer's plan, OK COBRA does not offer nearly as much coverage. In fact your coverage will only last for one month. Since the coverage is so short and so expensive, most people opt for a private plan right away rather than delaying it for 30 days.
Finding A COBRA Alternative
If you want to find a long-term health insurance solution or if you can't afford COBRA in Oklahoma, you can explore many alternative options from private companies. The most preferred option is normally an individual or family plan that offers similar coverage to what most people have when they are working. You can choose from HMOs and PPOs with a variety of coverage options. Additionally, if you have a preexisting condition, you can look into PCIP insurance that specifically offers care to people with medical needs who are normally denied coverage. If you want a very lost cost or short term plan, look at catastrophic, high deductible, and short term plans. No matter what type of coverage you want, you can use the free quote box below to examine a variety of plans and compare their cost, coverage, and term length to Oklahoma COBRA insurance.
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Oklahoma Frequently Asked Questions
How does Oklahoma COBRA Insurance help me after I lose my job?
If you qualify for OK COBRA care then you will be able to continue to use the health insurance you had while employed after you lose your job. It extends to both the employee and their family members.
My company just went out of business could I use Oklahoma Continuation insurance?
Regrettably there is no option for Oklahoma continuation option when the company goes out of business. The reason is that COBRA is an extension of the health insurance plan you had and if the medical insurance plan doesn't exist then there is no way to continue it with COBRA. Instead you will need to look at these COBRA alternatives.
How many days am I able to continue coverage with OK COBRA insurance?
Oklahoma COBRA health insurance only lasts for 30 days, which is a very short-lived solution. Many people choose to immediately sign up for private insurance right from the start since the insurance from COBRA is so short. This saves them the hassle of having to find a new plan in a month.
I am pregnant and want to know if my Oklahoma COBRA will my child when it is born?
As long as the baby is born while you are on the OK COBRA plan then the child will be covered. However since the insurance from COBRA in Oklahoma only lasts for 30 days, your child will only be covered for a very short time.
What is the hospital coverage under an Oklahoma COBRA insurance plan?
The hospital coverage is the exact same as it was while the covered employee was employed since the plan is the exact same. That will mean you have to pay the same deductibles, copayments, and be limited to the same network.