For anyone who recently lost, quit, or retired from their job and is at risk of losing their health insurance coverage, Connecticut COBRA insurance is something that likely comes to mind. COBRA insurance is an option that many people use after losing, quitting, or retiring from their jobs and can be a good option depending on your circumstances. Under the COBRA insurance laws you can continue to keep your health insurance from your employer if you meet certain requirements set out in the law. These benefits extend to your family if they were covered under your insurance policy. With that said, COBRA insurance is not the best option for everyone given its high cost. Make sure to always consider all of your options before deciding on Connecticut COBRA insurance.
Federal COBRA insurance in Connecticut is one of the first things anyone who recently quit, lost, or retired from their job should consider. Federal COBRA allows you to continue to use the exact same health insurance plan you had with your employer for 18 months in most cases. If you qualify for coverage your family or anyone who was on your health insurance plan is normally eligible as well. Most people qualify for COBRA insurance if they worked at a company with at least 20 employees and were not fired from their job for gross misconduct. Divorced spouses who lost their coverage from the covered employee and children who have lost their dependent status are also eligible for COBRA. The major disadvantage to COBRA insurance for most people is the cost of coverage. To use COBRA you must pay the entire premium on your own, without the employer subsidy. The major advantage of COBRA insurance is that you have no lapse in coverage and your health insurance coverage doesn’t change at all.
If you do not qualify for federal COBRA insurance because the company you work for, or your covered spouse or parent worked for, has between 2-19 employees, there is a good chance you are eligible for COBRA insurance with Connecticut Mini COBRA insurance. The state of Connecticut started their own COBRA plan to help state residents who were not eligible for COBRA with the federal plan. Much like federal COBRA the major downside to state sponsored COBRA is the cost since the employee must pay the entire cost of the premium on their own. The major advantage of Connecticut Mini COBRA is that your health insurance plan stays exactly the same and their is no lapse in coverage.
If COBRA insurance costs are a barrier to signing up for COBRA insurance or that you want a more affordable health insurance option and are relatively healthy, private insurance may be your best option. Private health insurance plans are normally much less expensive than COBRA insurance for people who are in good health. It is important to explore this option because most people find they can save up to 65% by choosing a COBRA insurance alternative with a private insurance plan. To find out what options you may have, get a no obligation free insurance quote.
A final option for families, especially children, is to look for government sponsored health insurance. Many families who are in need and below a certain income level can get free or reduced cost health insurance through governmental programs available through state and federal government programs.