State Combines Federal Funding with State Funding to Provide for Unemployed
While COBRA has long been an option for keeping health insurance coverage after becoming unemployed, many Americans have found the cost too high to take advantage of the coverage. Part of the recent stimulus package which Obama has signed into affect provides a subsidy for COBRA, making the premiums more affordable for unemployed Americans. Massachusetts has taken this one step further by continuing its state program, which has already been in place to make COBRA more affordable, and combining it with the stimulus funds to help the unemployed. Many Massachusetts residents have gone from premiums in the thousands, to premiums in the hundreds, or less. The state has prided itself in being generous with health insurance coverage, being one of the few states with a relatively small number of uninsured citizens. However, if the state can already afford to subsidize the COBRA program without the help of federal funds, should the federal money be directed to other, needier states?
March 9th, 2009 at 12:07 pm
This Cobra provision is going to kill small business owners. Not sure how Obama thinks this will help the economy?
March 9th, 2009 at 12:41 pm
This was a real careless provision by Obama. Where does he plan on getting this money?
March 9th, 2009 at 2:00 pm
Dollar’s for this purpose or for many many of the other project in the package. From where will they come? Of course, another disadvantage of COBRA is if the recipient does not get group insurance but did contract a critical health condition within the normal 18-month limit he/she would likely not qualify for individual coverage and then have to obtain a HIPPA pilicy at at least double the prmium. Will Obama’s administration then subsidize these increased premium amounts as well? It is little wonder that successive administrations have avoided this maze.
March 10th, 2009 at 6:06 pm
Yeah, I’m not sure If I agree with that. Federal Funding for health insurance needs to be placed.
March 11th, 2009 at 10:20 am
Is your Florida Health Insurance Doomed?
If you feel that your Florida health insurance is doomed you are probably stressed out. You know that you need coverage, but at the same time realize that a big change is in store. It is important to be careful about the changes you make. You may not need to do anything just yet. But at the same time, being prompt is essential in ensuring that you never face a lapse in coverage.
Why would my Florida health insurance be doomed? For one, if you rely on group coverage you never know when your company may cut this benefit out of your employment package. In this case you would be stuck without health insurance, and hoping to find something soon enough. Your company has to give you notice, but even then you will be put in a bad position.
What if I buy my own Florida health insurance? In this case it is important to realize that you are the only one who can cancel your coverage. As long as you pay on time you will always have insurance.
If your Florida health insurance is doomed you will know it. You will get the feeling that something is wrong, and realize that making a change is the best thing to do. Keep an eye out for both the good and the bad when it comes to your health insurance coverage. This way nothing bad will sneak up on you.