Leave a comment below or ask on the COBRA Insurance Forum

.

Compare COBRA to Individual Health Insurance

If you are healthy, there is no reason to extend your benefits under COBRA, because with private health insurance:

Premiums are lower
Little legislative risks
Don't have to wait on notification
No expiration of benefits
You can only be canceled for nonpayment
More flexibility with doctors
Don't need a "qualifying event" to become eligible

The cost of COBRA is high because

The government doesn't set a cap on the premiums
Like your exisitng group health, companies must cover everyone, regardless of health
Instead of ending a policy within 30 days, a company doing group health must give you coverage for a period of 18 to 36 months
The employer no longer pays the majority of your premiums

Ways to save on private health insurance:

Higher copayments
PPO instead of HMO
Higher out of pocket max
Compare 3 companies
Use an independent agent

Written by Craig J. Casey

Craig Casey is an Writer, Coach, Blogger, Husband, and Former Health Insurance Agent helping people on the web since 1999 with their health insurance problems.