LAS VEGAS - nvtip -- If you rely on employer-based health insurance and you lose your job, you may wonder what happens if you need medical care before you are able to get new coverage. Fortunately, a law passed in 1986 gives many workers and their families the right to retain their health insurance even if they quit or lose their jobs.

You are not required to accept COBRA. This option is not for everyone, but it can benefit those in certain situations and help avoid gaps in coverage.

What Is COBRA?
COBRA is an acronym for the Consolidated Omnibus Budget Reconciliation Act. Prior to COBRA, if workers lost their jobs, they immediately lost their health insurance. This law gave qualified workers the option of keeping their group health insurance plan if they lose or quit their job or lose their full-time job status.

How Much Does COBRA Cost?
The biggest drawback to COBRA is its cost. With this option, you pay both your portion of the monthly premiums as well as what the employer paid. Additionally, there may be an administrative fee. The high cost of COBRA can be burdensome for anyone, but it can put coverage out of reach financially for someone who has recently become unemployed. Before you begin to pay your first Cobra payment, you absolutely should speak with your broker. You may be eligible for a Government "Subsidy" to help you pay your health insurance. This would not help pay your Cobra, but it would help you pay for a "Qualified Health Plan" that covers pre-existing conditions.

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Nevada Insurance Enrollment
4260 W. Craig Road suite #150-A
North Las Vegas, NV 89032
(702) 898-0554
Website: NevadaInsuranceEnrollment.com