Coventry Health Insurance of Georgia (GA) | Health Insurance Georgia | If You've Had Cobra, Now May Be The Time To Get Your Own Health Insurance In Georgia

Health Insurance Georgia

If You've Had Cobra, Now May Be The Time To Get Your Own Health Insurance In Georgia

Those unemployed individuals who have been using federal monies to help them pay for their COBRA continued health insurance in Georgia coverage are about to run out of subsidy money. This part of the American Recovery and Reinvestment Act, which was signed into law in February 2009, set aside money to contribute 65% of the premiums for continued coverage with health insurance in Georgia under an employer's group health plan. Workers who had lost their job through May 31st were eligible for this subsidy. This subsidy helped many people have the resources to continue their coverage through their health insurance in Georgia, and not have to go without. However, the program ends May 2010.

Also, many unemployed individuals signed up for this COBRA subsidized program and government assistance to keep their continued coverage with their health insurance in Georgia back in March of 2009 when it first became available. The COBRA law, which was passed in 1985, only allows individuals to continue this COBRA coverage for eighteen months. That means that in September 2010, their benefits will not renew. They will then be without health insurance in Georgia. There are certain exceptions for dependents, people with disabilities, etc., that allow up to 36 months of continued coverage with COBRA health insurance in Georgia. Check with your employer's human resource office, or insurance broker, to see if you might qualify for these exceptions.

So, this can cause a big financial burden to those who suddenly have to go from paying 35% of COBRA health insurance in Georgia, to having to pay 100% of a new policy. This is a significant increase in premiums for health insurance in Georgia.

According to recent reports, approximately 6.55 million Americans have been unemployed for six months or longer. And it is not just the unemployed who are using COBRA health insurance in Georgia. Some people who have found new jobs may not yet have effective health insurance in Georgia so they may be continuing to use their COBRA benefits as well. All of these individuals will find themselves scrambling to come up with the 65% difference that the government was offering, or even up to 100% of the premium costs, if their COBRA health insurance in Georgia has run out.

One way to maintain coverage with health insurance in Georgia is to purchase an individual or family policy in the private market. Individual family policies have lower premiums than family policies with a group health plan, so it likely that an individual will save money if they were paying for a full family group health plan policy. However, if you or a dependent have pre-existing conditions, which is the term used for previous or ongoing health problems that require medical attention, then you may not qualify to purchase individual health insurance in Georgia. Sometimes, even if you qualify and are approved, the premium is increased to compensate for your high health risks. Other times, the insurance carrier will place limits on the pre-existing conditions and receiving benefits through your health insurance in Georgia.

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