Insurance

Important Information About Cobra Insurance Rules

Lack of employment has brought many challenges to many individuals who cannot afford to pay for medical insurance independently. As such, the federal law came up with COBRA insurance to ensure people get the medical attention they deserve. Here is vital information on cobra insurance rules.

Lasting Period

The insurance is helpful for people who had their last jobs terminated. Through this cover, you have the option of keeping your previous coverage for up to eighteen months.

Eligibility

The cover applies to firms in the private sector that have more than twenty workers. In case you are equipped with a family plan, you can have some of them apply for cobra insurance.

Costs

You have the option of paying a hundred percent on top of a two percent administrative fee. The cost of the cover you have will highly depend on the plan costs to the employer.

Conclusion

To apply for this cover, you should inform the health plan before thirty days are over. Eventually, you will be given sixty days to sign up for the cover.