The Clock is Ticking to Get Out from Under COBRA!
If you are currently enrolled in a COBRA plan, you may not be aware that for a limited time, you may qualify for a more affordable health plan on or off the exchange–with potential health-care subsidies as well. That’s because in early May, the U.S. Department of Health and Human Services (HHS) announced a 60-day special enrollment period (SEP) for anyone who has COBRA group health benefits continuation coverage.
But the deadline for this period is July 1, 2014. So anyone on COBRA should act NOW.
As you may be aware, COBRA (the Consolidated Omnibus Budget Reconciliation Act) enables people who lose their jobs to continue the coverage they had with their employer–however the catch is they must pay the full premium (in most cases the bulk of which was previously paid by the employer). This was never a cost effective option for the unemployed. But now, people can get more affordable coverage through the health insurance marketplace, also called the exchanges (with potential government subsidies not available under COBRA). They may also find more affordable coverage options off the exchange.
While this is all good, this opportunity presents a wide range of often confusing options. Plus, time is limited not just to get the best, most affordable health care coverage, but to do it RIGHT–and also to make sure you get every amount of subsidy support for which you are eligible. Subsidies can significantly lower the amount you pay out of pocket each month toward your premium.
But to get all this done quickly and by July 1, you need to have your ducks lined up not just in a row, but in the proper order. Can you do that?
Many people can’t, because of all the confusion and mis-information out there. That’s why working with a broker–which costs you nothing extra–is the smartest and easiest way to go.
At MyHealthQuoter.com, we are your broker of choice. It is our mission to help you get the proper coverage you need, and every benefit for which you may be eligible. We will get the facts and information about your needs and those of your family, as well as any constraints you may have (and we all have them!).
Consider these important facts:
Under COBRA, you’re living with a plan that your previous employer chose not for your best interest, but for theirs.
Under COBRA, you’re paying the full premium of a group plan. (In health insurance, “group rates” typically mean higher, not lower). This also means that you are paying not just based on your own risk factors, but that of all the other current employees at your former employer.
Until July 1, 2014, you can trade your COBRA plan for your own private health insurance plan, and save a ton of money on your premium. But that will still involve answering a ton of questions, such as:
- How do I compare the benefits of my COBRA plan with the countless different plans that are available?
- How do I know which is the right plan at the right premium?
- How do I know if I can get a subsidy? If so, how much? More importantly, what do I have to do to get it?
- If we are in a special enrollment period, what must I do to make sure my application will go through correctly?
- What do I do if I have a claim issues? Is there anyone who can help me out?
At MyHealthQuoter.com, it is our mission and calling to help people navigate through these rough waters. With our guidance, you have the benefit of getting the right coverage at the right cost and for the maximum savings. If you have a problem with your plan or with a claim, your broker is there as your advocate. You are never alone.
The BEST part: All this costs you nothing extra. So if you’re on COBRA right now, you owe it to yourself and your family to see what you can do to get off of it. We will guide and help you every step of the way.
But the clock is ticking–so call us at (614) 336-3636 NOW.
Matthew Byrne has made a career helping people find affordable health insurance in Ohio. He is the founder of MyHealthQuoter.com, a Dublin-based brokerage providing Ohio health insurance quotes and services for individuals, families and corporations. Mr. Byrne is a subject matter expert speaking frequently about Health Care Reform, Defined Contribution Programs, COBRA, and Medicare. He can be reached at (614) 336-3636, and online at www.MyHealthQuoter.com.
Need a Health Reform Speaker? Find Matt on COPEC! http://copeceducation.org/speaker/Matthew.Byrne