Is your Group Health Insurance Safe?

Many companies are no longer able to afford to offer group health insurance to employees. How do you feel about your company? Are your group benefits safe? Do you think they could change in the near future? It is unfortunate that so many people have to think about this, but there is no denying that it is a real problem that needs to be watched out for. You do not want to lose group health insurance without having a backup plan that can get you back on your feet.

One of the best ways to continue coverage after losing group health insurance is through COBRA. This gives you the chance to buy the same coverage that you had through your employer. Yes, you have to pay for COBRA but this at least gives you the chance to keep coverage in place. The worst thing you can do is say no to COBRA and not pick up anything at all.

If you do not want COBRA you can buy your own health insurance. Again, you will pay for this but some people find it to be the more affordable option. If you are not sure that COBRA is right for you, it would be in your best interest to receive quotes for individual coverage. You should at least consider this option so you can see what all is out there for you.

Do not start worrying too much about losing group health insurance; you don't even know if this is going to happen. Of course, having a backup plan is a good idea because you don't want to be blindsided. If your group health insurance is unsafe, at least you now know where you can get coverage if something does happen in the near future.