Money-saving Health Insurance Tip

As you may have guessed, health insurance under COBRA is a bona fide life saver for many families who are managing their way through a job loss. It is important to remember however that COBRA does not last forever and it is usually very expensive to continue coverage.

It is a good idea to plan on comparing the cost of a group health plan through COBRA to other private health plans. Such comparisons are made easier with online services such as Better Health Quote. Readers can obtain their personalized and free quote on health insurance from major carries like Aetna, Humana, Assurant, AIG and other health insurance providers.

The Good And Bad About COBRA Coverage
Across our nation, we are seeing that the situation is getting bleak now. We see reports that state that over 10% of Americans are out of work and millions of people are facing some very tough choices about health insurance for themselves and their families. COBRA is mandated by federal law, and offers temporary continuation of group health coverage through your former employer's health plan.

It is important to note that they coverage can last for up to 18 months and in some specific cases, coverage can actually last for up to 36 months.

COBRA may not be the best option for families however. It can be very expensive to continue the coverage. Keep in mind that the required payment for continuation of coverage is often more expensive than the amount that actively employed employees are required to pay for the group health coverage, since the employer usually pays part of the cost of employees' coverage and all of that cost can be charged to the individuals receiving continuation coverage under COBRA.

A private policy may make more financial sense for some people. It may pay to do some comparison shopping prior to making that decision about continued coverage. One convenient option for families is to shop around and take advantage of services like Better Health Quote where you can receive current pricing on several health insurance plans and thereby get the opportunity to choose the one that saves you some money.

Budgeting with an eye to every single dollar is important when families who are dealing with the loss of a job is concerned.
Health insurance expenses are no exception to this budgeting discipline that our hard working readers need to address.