Since I haven't surveyed my 'spam' file for a couple days before I delete it, there are nearly a hundred items there .... and a few of them are about an insurance called Cobra. Now I admit I'm really ignorant about this insurance except that I guess its insurance that people who are suddenly out of employment can take to keep up their coverage [ooh, being covered by a cobra isn't exactly a cozy feeling], although I guess its an extremely high rate - if its' got any government link's that's no surprise ... But I was just thinking why would name a health insurance COBRA .. are those who gave it its name aware of what a cobra is - one of the worlds most poisonous snakes. Maybe its a subtle signal, watch out for this insurance. One of the those spam invitations even suggested there are options; do these options have anything to do with how much venom you have to take to be fully or adequately insured ... or how long are these options effective before the full force of the venom kicks in, breaks the bank and you're left again without coverage?
Well, I've already spent too much time on this spam; but it was fun - later.
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Consolidated Omnibus Budget Reconciliation Act of 1985 aka Cobra mandates that you are able to continue your same insurance policy with your employer after termination for up to 18 months as long as you pay your premium and the part normally assumed by the employer. So technically it is not a higher rate but you are paying for a portion you didn't previously pay for.
ReplyDeleteThanks Ed! You've made me feel a less ignorant, and any help is more than welcome. I trust that many people have profited by this act - and who knows, one day I may have to use it also, hope not.
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