What is COBRA Insurance?
COBRA is a law used to extend the coverage of the group health insurance even after quitting the job. Employees can retain the health insurance if they promptly pay the premium. COBRA covers dental, visual, physician, surgery and hospital care. There are some other reasons for retaining the cobra health insurance as well.
How COBRA coverage gets terminated:
COBRA coverage is terminated when the employees become eligible for Medicare. It also gets terminated if the maximum coverage limit is reached. Another reason is when a new employer’s GHP has a waiting time. If no waiting time you can extend the COBRA coverage. You can make use of the internet to know more about the blue cross blue shield of Florida based COBRA plans.
Moreover, a COBRA coverage gets terminated when your current employer stops all the coverage. Furthermore, your COBRA coverage can be terminated when the premium is not paid on a specific time. A few ways to avoid the termination in case of disability are as follows.
- If you become disabled before 6 months of enrolling in a COBRA plan, you can extend the validity of the plan.
- If you are the part of a blue cross blue shield of Florida approved COBRA plan, your COBRA plan can be extended from 11 months to 29 months.
If you are enrolled in Medicare, you will become eligible for COBRA. And if you have end stage renal disease, your COBRA will still not end. But divorce is another reason for your COBRA plan to end.
Your disability has to be informed either to your employer or to the insurer. Most COBRA plans available can be found in an online insurance marketplace. Some states have some specific rules and regulations on extending the COBRA group health insurance plans. Insurance experts can provide more details on these specific plans.