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Expensive Health Insurance Archives - Steinlage Insurance Agency

Spending too much for Health Insurance on COBRA? Now’s your chance to move directly into a more affordable ACA plan!

By | Obamacare, Understanding Health Care Reform | No Comments

The Department of Health and Human Services announced a 60-day special enrollment period (SEP) for anyone who has COBRA group health benefits continuation coverage. With this announcement, COBRA enrollees have until July1, 2014, to change to an Affordable Care Act (ACA)-compliant plan. To take advantage of this SEP, COBRA enrollees have until July 1, 2014, to apply for an on-exchange plan or for an Anthem plan. Under COBRA (the Consolidated Omnibus Budget Reconciliation Act), people who lose their jobs may buy the coverage they previously had through their employer, but they have to pay the full cost for each month during the 18-month continuation period. Previously, once you opted for COBRA coverage the only time to change your plan from COBRA to an ACA compliant plan was during the Open Enrollment Period (October 15-December 7) or at the end of the 18-month continuation. However, with the HHS announcement, individuals who…

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