What Can Make COBRA Health Insurance End Early, or Impossible to Get

Matt King Health Insurance Editor

If you’re like the 8-15% of unemployed Americans, you may be very aware that COBRA health insurance only lasts 18 months. Are you aware of the other ways you can lose coverage? It’s easy to lose your COBRA Health Insurance eligibility if you’re making a lot of life changes.

#1: Make Sure Your Pay Your COBRA Health Insurance Premiums on Time

It’s tough not having a steady source of income, but be aware that you can lose your COBRA health insurance coverage in the blink of an eye if you don’t pay your premium. Healthcare debt is one of the leading causes of financial ruin. If you're unable to afford COBRA, make sure your prioritizing your spending appropriately. Perhaps sustaining your existing health coverage simply isn't reasonable and a more affordable health insurance option is available. Consider comparing different health insurance rates online.

#2: If Your Previous Employer Drops Health Insurance Benefits, COBRA May Go Away

As the U.S. economy continues to struggle, many small and medium-sized companies are dropping their health insurance benefits all together. If your previous employer was on the brink of going kaput before they ended you employment, be aware that if they decide to end health insurance, you may lose your COBRA insurance.

#3: You Move Outside of Your Healthcare Provider's Coverage Area

If you’re subscribing to COBRA health insurance and you move outside of your health insurance company’s coverage area, you may lose your COBRA health insurance benefits. Before you move, understand the states where your healthcare provide operates. Make sure you have some form of health insurance before you forfeit your COBRA.

#4: You Have Different Forms of Health Insurance Coverage

This may seem obvious, but if you join another person’s health insurance plan or you purchase a separate plan, your COBRA health insurance will end.

Times When You Can’t Get COBRA Health Insurance

OBRA health insurance coverage is not always an automatic. People who are old enough to qualify for Medicare (65 and older) are generally not eligible for COBRA. Additionally, if you were fired for very bad reasons, chances are that COBRA health insurance will not be waiting for you. It bares repeating: If you don’t pay your health insurance premiums, you will lose your COBRA eligibility.

Alternative to COBRA Health Insurance

Whether you are not eligible for COBRA health insurance coverage, or if you unfortunately lost it, don’t despair. There are a myriad of alternative health plans out there that meet the unique needs of most consumers. The only catch is that many of these alternatives are not that cheap. On the other hand, a savvy shopper can find better and cheaper health policies. Find a local insurance agent that sells health insurance and request a couple different health insurance quotes. Just like finding a cheaper auto insurance policy, InsuranceLoco recommends that you compare at least 6 different health insurance quotes to find your best policy.

For more information on COBRA Health Insurance:

U.S. Department of Labor COBRA
Tel: 1-866-444-3272

Yahoo! Finance Health Insurance Center