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Oregon COBRA Insurance
Losing health insurance because of job loss isn't an easy situation for any person or family to face. It can be stressful and cause frustration as you try to understand the COBRA laws and costs. If you have determined you do not qualify for federal COBRA coverage, you may still qualify for Oregon COBRA insurance.
The Oregon COBRA health insurance plan was created by the state government to extend coverage to more people in the state in this situation. The government saw that many people who worked at smaller companies were not afforded the benefit and option of COBRA. To counteract this, they created their own program to give people those benefits.
What is Oregon COBRA Insurance?
The Oregon plan is just like the national plan and gives people the choice to continue to keep the same health insurance plan they had when employed after job loss. It also covers family members including dependents and spouses. The difference with this plan is that people who worked at smaller companies with fewer than 20 employees will be eligible. For those who choose to sign up, nothing about their health plan will change while they are using COBRA.
Can Oregon COBRA Be Terminated?
Yes. There are a few reasons that your coverage may be terminated. The most prevalent reason is because premium payments aren't made. When you fail to pay the premium, your plan is cancelled. In addition, if for any reason your former employer stops offering health insurance, your insurance will also end.
How Much Will It Cost?
To use the benefits of Oregon COBRA insurance you will have to pay both what you paid and what your employer paid for health insurance. In addition there will be a 2% surcharge monthly. In some rare cases, the cost may increase to up to 150%of the premium. The cost is expensive because your former employer no longer helps cover any part of it.
How Long Will Coverage Last?
The Oregon plan will last six months in most cases. It starts from the day your coverage would have ended. Due to the short nature of the coverage, most people opt to choose a private plan from the start instead of waiting six months to find one. Additionally these plans are usually more affordable.
Other Medical Insurance Choices
There are numerous other medical insurance options in Oregon besides COBRA that many times are more affordable and more suited to your needs. For people with incomes near the poverty line, they can consider community and government programs. For people who want more comprehensive coverage that mimics their old plan, they can look at private individual and family plans. If you want a very low cost option, look at emergency plans that only cover the most serious medical needs. No matter what type of plan you think you may want, even if it is COBRA, use the quote box below to begin exploring options. It will give you a free, comprehensive list of insurance plans available in Oregon as well as coverage information and cost.
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Oregon Frequently Asked Questions
How expensive can Oregon COBRA insurance get?
In most cases Oregon COBRA costs the same as national COBRA and is 102% of the entire premium including both what you paid for insurance and what your employer paid for your insurance. However there are some cases in Oregon where COBRA can cost up to 150% of the premium cost. This amount can be over $1800 monthly for a family of four. If that is too expensive for your budget, here are some ways to save money on COBRA.
For how many months can my family stay on Oregon Continuation coverage?
Oregon COBRA insurance lasts for six months in typical situations. Due to the relatively short length of coverage many people opt to sign up for a private plan from the start unless they know they will have a new job with benefits within that six month window.
My company cancelled the insurance plan will I be able to COBRA in Oregon?
In this situation you will not be able to use COBRA. COBRA only works to continue an insurance plan that is still in existence and active. When a plan is cancelled at a workplace there is no option for continuation with COBRA.
My hours got reduced and I no longer qualify for health insurance, could I use COBRA?
Under both the state and federal laws, a reduction in hours is a qualifying event so as long as you meet the other qualifying requirements you will be able to use COBRA insurance. If your medical plan covered twenty employers or more than you will look at the federal plan and if your plan covered less than twenty employees than you will want to look at Oregon COBRA health insurance.
Will my adopted child be able to use COBRA coverage in Oregon?
Yes. An adopted child is a dependent and so they are considered an eligible beneficiary under the COBRA law in Oregon.