In addition to health insurance, COBRA continuation coverage also often extends to dental and vision benefits.5 It’s advisable that you review COBRA’s guidelines to learn more about how COBRA works with vision insurance and other benefits. Should I get vision insurance if I don't wear glasses...
If you employ at least 20 FTE employees on more than 50% of your typical business days in the past calendar year and offer a private-sector group health plan to employees, you must offer COBRA continuation coverage. Example: PPP For PPP loan forgiveness, your lender will look at your avera...
The Affordable Care Act, also known as Obamacare or ACA, requires most Americans to have health insurance that meets a government standard known as "minimum essential coverage," or MEC. Whether your insurance qualifies as MEC depends not on the plan itse
COBRA Continuation Coverage:When individuals leave their job but choose to continue their group health insurance coverage through COBRA, Medicare can serve as the secondary payer. Medicaid:If you qualify for both Medicare and Medicaid (dual-eligible), Medicaid may cover costs that Medicare doesn’t,...
Consider these options that may be available to you (see table). Retiring before 65? Explore health insurance options and estimate potential costs before you’re Medicare-eligible. COBRA continuationSpouse's health planPublic marketplacePrivate insurance Target audience Former employees Eligible spouses/...
, you may be able to extend the term of your job-based health insurance plan. this kind of insurance is called continuation coverage. keep in mind, the availability and length of cobra coverage can vary based on your situation. before you elect to go with a cobra plan, you might want ...
“You will not be entitled to receive any severance pay as part of your termination. However, please note that this decision does not in any way affect your access to COBRA benefits, which you may purchase at the rates specified in the continuation coverage election notice that we will send...
Even if you are eligible for continuation of coverage through COBRA, your premiums are likely to significantly increase—annual premiums can be up substantially more expensive through COBRA than the employee cost of the same coverage while employed. Factor in some additional money to cover the cost...
During the resignation process, it is advisable to inquire about the continuation of health insurance coverage through a program called COBRA (Consolidated Omnibus Budget Reconciliation Act). COBRA allows you to temporarily continue the health insurance coverage you had with your current employer, but ...
Insurance premiumsdon’t count as a qualified medical expense unless the premiums are for Medicare or other healthcare coverage (provided you are age 65 or older); for health insurance when receivinghealthcare continuation coverage (COBRA); for coverage when receiving unemployment compensation; or for...