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Do You Offer Any Alternatives To COBRA Insurance?
We offer many alternatives to COBRA
(the continuation of your group health insurance plan) -
including Short Term Health Insurance and Long Term Health Insurance. Short
term health insurance is generally ONLY recommended if you know exactly
how long before your permanent health insurance starts.
If you are still looking for a job, and have no permanent health
insurance - then long term health insurance is the most appropriate -
since both forms of health insurance premiums are paid monthly.
COBRA health insurance
offers you the ability to keep your group health insurance benefits for
up to 18 months after leaving your former employer (most cases - not
all companies need to provide a COBRA option - check with your company
for details). The most common problem with COBRA health insurance
is the rates are usually VERY expensive.
When should you shop for COBRA alternatives and Individual Health Insurance?
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Everyone is in good or reasonably good health
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Taking very few or inexpensive prescriptions
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No one is pregnant - or planning on having a child
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No one is morbidly obese
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If your COBRA health insurance rates are unaffordable
When should you keep your COBRA benefits and not consider Individual Health Insurance options?
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Currently pregnant,
or any household member pregnant, or possibly pregnant - KEEP YOUR
COBRA (unless you want to have no health insurance & pay for the
maternity out of pocket!) If you are currently
pregnant, all household members (except existing children) are not
eligible to apply for individual health insurance in Texas.
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Planning on having a child
in the near future (you are not going to find Maternity health
insurance in Texas - it does not exist, quit searching the Internet you
are just wasting your time and effort)
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Major medical problems
- Cancers, Strokes, Heart Attacks, diabetics, any diseases, etc.,
Most people are under the misconception that having prior group health
insurance allows them to switch to an individual health insurance
plan. This is not true in Texas - all applications are subject to
underwriting REGARDLESS of your previous health insurance status.
You may wish to check the State of Texas High Risk Pool.
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Expensive prescription medications
(Individual insurance is likely NOT to pay for these for a period of
1-10 years, or possibly not pay for them forever). Let's face the
reality - health insurance in the United States is private. Do
not be surprised when your $150 a month individual health insurance
plan does not cover your $400 per month prescriptions! Health
Insurance is a private industry - if you are not going to be a
profitable customer due to risk or other conditions - you might be
declined (which they have the right to do) and at this point you might
be able to join the Texas High Risk Pool (expensive).
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Morbidly Obese
- Severely overweight or searching for weight loss reduction surgery
(which is not covered under any Individual Insurance Plan in
Texas) Morbidly Obese is generally defined as being more than
40-60lbs. overweight. Every health insurance company can define
what the height / weight guidelines are for being accepted. If
you are slightly overweight you should be fine - if you are overweight
- expect individual insurance to charge you an additional
premium.
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