Health Insurance Forum - COBRA or Individual Plan

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Q: COBRA or Individual Plan

asked by: Turbo_Car_LA on April 22nd, 2009

New User

I recently resigned from my company in order to start my own busness. I still have 1 month to elect COBRA. However, am I better off getting individual insurance since I do not have any pre-existing conditions? My only concern with COBRA is that if I develop a condition in the 18 month coverage, it maybe hard to find individual coverage after the 18 months. I hope someone can answer my question or give me suggestions. I am confused about what to do.

Replies(2)

CorinneM

replied on April 23rd, 2009

New User

COBRA or Individual Plan

It is true that if you develope a condition in the next 18 months you may find it difficult to get an individual health plan. With some conditions it is a flat out decline. I would look at your options for individual plans now. You may very well be able to find a good plan for the same amount (or less) that you'll pay for your COBRA plan. I see too many people that have lost their group coverage and are not eligible for an individual plan.

DonnaMartin90210

replied on April 28th, 2009

New User

Individual plans may be the way to go. If you are healthy and dont have any preexisting conditions as of right now, an individual plan will be a lot cheaper, even with the government subsidy.

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