Why does the Consolidated Omnibus Budget Reconciliation Act known as COBRA, get negative feedbacks and yet still have to be acquired by people. Due to this year's worldwide recession, a lot of people get laid off from their jobs. And as stipulated in the COBRA (which was a law passed by the late President Ronald Reagan) the government gives support to its people to purchase medical aid from the company they worked in the past. Of course it is a provision that helps poor people who aren't old enough to qualify for Medicare, get by in their time of need; but it is also something that reminds people so much of better times; it makes them feel stigmatized to have to use it the way it would if they needed food stamps.
Former employees, retirees along with their dependents are entitled to temporarily continue paying their COBRA health benefit as a group. It is also a fact that COBRA's group health insurance costs more unlike those employed workers. This is because, employers are required to pay a part of the premiums of their employees.
COBRA provides medical assistance for their beneficiaries which includes; hospital care (inpatient or outpatient), physician care, surgical and other major medical benefits, also prescription drugs and other medical cares such as those of dental and optical clinics. Isn't it a great relief for a lot of people to receive these benefits? However, on the contrary it appears to be stripping these people of their precious possessions instead.
There is this quiet and peaceful elderly couple we know; the husband I guess is almost 70, he recently lost his job as a shelf stocker wherein he receives a few thousand dollars from his Social Security check. His wife, who's younger than him previously worked as a bookstore supervisor, until she also got laid off because the store chain closed down completely. Losing her job means that she won't be able to pay for her expensive medications if not for her COBRA benefits. Previously, buying her own medicines monthly, just costs her about two hundred dollars or so. However, it is likely to change because of President Obama's business stimulus package at which point allows unemployed and laid-off citizens to claim their COBRA medical insurance for a span of only nine months. In March, she will need to fork over half of her paycheck to buy the coverage, and unfortunately her unemployment benefits will now sums up at about $1000. Now, the couple is puzzled as to where they'd be going to live after consuming all that remains from their benefits.
Why does the COBRA plan require citizens to work in this global recession; how many job opportunities are out there for old people that provide them health benefits over their wages? What does the government really want, have people work till they die due to an unmanaged sickness? What is more, anyone who gets laid off today can't even claim the nine months that the old couple and many others paid for. In the COBRA benefit's new frame, the unemployment benefits of laid-off persons amounting to $1000 or less still has to be subtracted with the least $800 or less monthly COBRA payment.
The government does notice that there is a problem here, and they are trying to reform the COBRA medical insurance act. However, it would surely consume much time. If you were in the place of those two couple, what would you do if you're benefits gets used up very fast? People need short term medical insurance coverage.
Well, the first rule of the game is, never to stop making payments for your COBRA medical insurance. One mean thing about it, is the fact that you wont be notified once the financed rate is about to end. You will just notice that your bills get a bit bulkier, which then drives you to find all means to pay it immediately. Once you cease your payments, that's the time they begin counting you as without medical insurance. They will give you a 63-day period to pay your dues before totally losing your COBRA insurance. Your insurance will be saved once you pay the said amount before the fixed deadline. If it takes longer than that, then when you come to them for coverage one day, they count you as an all new customer, and you'll have to pay unimaginable premiums like any new insurance customer with all kinds of existing ailments does. Isn't it more advantageous to just continue the group health insurance?
When the law passes and makes COBRA medical insurance kinder to people, they'll pay you back for whatever you spent. Making regular inquiries from your COBRA executive about the refunds gives you greater chances of getting instant notices as soon as it is ready. One certainly hopes that sense prevails over in Washington. But, if you need coverage, get an affordable health insurance plan at Insure-Insurance.com
Former employees, retirees along with their dependents are entitled to temporarily continue paying their COBRA health benefit as a group. It is also a fact that COBRA's group health insurance costs more unlike those employed workers. This is because, employers are required to pay a part of the premiums of their employees.
COBRA provides medical assistance for their beneficiaries which includes; hospital care (inpatient or outpatient), physician care, surgical and other major medical benefits, also prescription drugs and other medical cares such as those of dental and optical clinics. Isn't it a great relief for a lot of people to receive these benefits? However, on the contrary it appears to be stripping these people of their precious possessions instead.
There is this quiet and peaceful elderly couple we know; the husband I guess is almost 70, he recently lost his job as a shelf stocker wherein he receives a few thousand dollars from his Social Security check. His wife, who's younger than him previously worked as a bookstore supervisor, until she also got laid off because the store chain closed down completely. Losing her job means that she won't be able to pay for her expensive medications if not for her COBRA benefits. Previously, buying her own medicines monthly, just costs her about two hundred dollars or so. However, it is likely to change because of President Obama's business stimulus package at which point allows unemployed and laid-off citizens to claim their COBRA medical insurance for a span of only nine months. In March, she will need to fork over half of her paycheck to buy the coverage, and unfortunately her unemployment benefits will now sums up at about $1000. Now, the couple is puzzled as to where they'd be going to live after consuming all that remains from their benefits.
Why does the COBRA plan require citizens to work in this global recession; how many job opportunities are out there for old people that provide them health benefits over their wages? What does the government really want, have people work till they die due to an unmanaged sickness? What is more, anyone who gets laid off today can't even claim the nine months that the old couple and many others paid for. In the COBRA benefit's new frame, the unemployment benefits of laid-off persons amounting to $1000 or less still has to be subtracted with the least $800 or less monthly COBRA payment.
The government does notice that there is a problem here, and they are trying to reform the COBRA medical insurance act. However, it would surely consume much time. If you were in the place of those two couple, what would you do if you're benefits gets used up very fast? People need short term medical insurance coverage.
Well, the first rule of the game is, never to stop making payments for your COBRA medical insurance. One mean thing about it, is the fact that you wont be notified once the financed rate is about to end. You will just notice that your bills get a bit bulkier, which then drives you to find all means to pay it immediately. Once you cease your payments, that's the time they begin counting you as without medical insurance. They will give you a 63-day period to pay your dues before totally losing your COBRA insurance. Your insurance will be saved once you pay the said amount before the fixed deadline. If it takes longer than that, then when you come to them for coverage one day, they count you as an all new customer, and you'll have to pay unimaginable premiums like any new insurance customer with all kinds of existing ailments does. Isn't it more advantageous to just continue the group health insurance?
When the law passes and makes COBRA medical insurance kinder to people, they'll pay you back for whatever you spent. Making regular inquiries from your COBRA executive about the refunds gives you greater chances of getting instant notices as soon as it is ready. One certainly hopes that sense prevails over in Washington. But, if you need coverage, get an affordable health insurance plan at Insure-Insurance.com
About the Author:
Acquiring for an insurance isn't only for old people but also those young adults. Health benefits aren't used much by working adults, yet as they advance in age, illnesses which requires costly medications come up out of nowhere. What's even more appealing today is the short term medical insurances craze.
0 comments:
Post a Comment