COBRA Insurance is a law passed in 1986 which works to protect individuals who
falls into circumstances where they won’t be able to make the regular manner
of payment for their Insurance Policies. It also covers spouses who may have been
cut off as beneficiaries of their partners because of divorce from or death of
the insured party. COBRA is only offered as a Continued Coverage option and only
lasts for a certain period of time, depending on the situation. In this article
you will find the different events and medical needs that are covered by COBRA.
COBRA usually follows the general provisions of the employees current Health
Plan. It may include benefits that are provided with the regular insurance plan
together with the rules and regulations that are valid with it. The general
benefits are as follows:
- Outpatient and Inpatient Hospital Services – This include the clinic
fees, laboratory tests as well as the daily room fees for those that need
to be admitted into a medical facility. The availability of this feature is
determined whether the hospital where the client is admitted or seeking care recognizes the clients Insurance Provider. If so, the client has several choices depending on the Insurance Company Policies. This could include staying in the medical institution and reimbursing the client for what the client have spent or to simply move to a hospital that recognizes that particular Insurance Provider. - Physician Care – This feature includes the coverage of the Physician
fees. This could include consultation fees or professional fees for surgeries
and other special procedures. - Surgery – Most insurance companies covers their clients for any surgeries
that they may need to undergo. This may vary greatly on the nature of the
procedure. Some insurance companies cover Aesthetic Surgeries as long as it is in direct relation to the client’s physical health. - Prescription Medication – Medication can be very expensive and it
is in this area that Health Insurance providers are very helpful. This is
one of the reasons why reading your insurance policy contract thoroughly is
important. You have to know if your provider would cover Prescription drugs
for illnesses like Hypertension, Juvenile Diabetes and other illness that
the company may deem genetic and therefore not included in the policy. - Other Types of Medical Needs – This form of benefit can include that
of dental and optic needs. This may seem trivial, but it is extremely necessary and should not be looked at simply as a fringe benefit. You can never tell what will happen. You or any of your beneficiaries may end up needing assistance with more expensive dental and optical care.
It is important that you know what you are supposed to be getting with you
health and medical Insurance policies. COBRA Insurance aims to help you in difficult
circumstances when you are in between jobs or if you are experiencing social
and financial changes in your life. It is therefore necessary to act swiftly
and notify you Insurance provider as soon as any of the mentioned events occur
so that you can avail of the COBRA benefits.
