I am disturbed at the failure of Congress to do anything regarding the health insurance issue in this country. It is getting difficult for employers to have an affordable health insurance program for their company. The issue however might also be the fault of the employers that do not take responsibility for their health plan. They allow the employees to go on and off the plans arbitrarily. They accommodate the employee’s wishes without regard to the rules that the carriers put in place. This has an impact on the rates. We are seeing renewal rates of 15 to 40% a trend that is impossible to sustain. Someone has to take hold of this issue and act.
The Consolidated Omnibus Budget Reconciliation Act (COBRA) established in 1986 is a federal law that allows employees when terminated, for any reason other than gross misconduct, to continue their health insurance coverage.
Benefits can typically be extended for 18 months or as long as 36 months in certain situations.
For the group to be eligible it must have 20 or more employees. If your employer does not meet this requirement, then state continuation laws will go into effect and may provide extended coverage after employment.
COBRA laws also apply to products such as dental or vision insurance.
The employee will be required to pay the full cost of the insurance and a two percent administration fee may be added to the COBRA premium.
Health insurance forms can be very complicated and just the slightest error can be costly. You’ll have to provide a lot of personal information including, but not limited to social security number, martial status, proof of prior coverage, dependencies (and their social security numbers), medical history, prescription medications and more. When filling out your name and address, your handwriting needs to be clear and legible. Incomplete, illegible or false information can result in coverage delays or loss of coverage completely.
Watch our video to help walk you through how to fill out a health insurance enrollment form.
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