Ohio COBRA health insurance coverage is available to qualified residents of the state who have lost their medical benefits from their employer. Children and spouses are also eligible and would receive the same benefits as the primary recipient. However, the business must have at least 20 employees. Under certain conditions, if your employer has less than 20 employees, you may be able to purchase a policy for six months under the state continuation law. But there is no obligation to accept your offer, and often, during Open Enrollment, alternative options are less expensive.
Typically, you’ll receive notification in writing and you’ll have approximately 60 days to secure other benefits or accept COBRA rates, which can be quite costly. This is because you are paying the full premium that your employer was charged for your medical benefits. There may also be a small administrative charge with slightly raises the cost. However, you do not have to “apply” for coverage and no medical questions are asked. Pre-existing conditions will be covered in their entirety, although deductibles, copays, and coinsurance may apply.
It’s A Federal Law!
COBRA (Federal Consolidated Omnibus Reconciliation Act) is a federal law that allows employees that leave their jobs to continue and maintain their former employee’s health insurance coverage for 18 months. Normally, employees are required to pay the entire cost of the coverage, making benefits unaffordable for most Ohio workers. But sometimes, the rates are very reasonable.
Income restrictions limit coverage to individuals that make less than $145,000 and to families that make less than $290,000. Also, COBRA is offered with group health plans when employers have more than 20 employees. Voluntary or involuntary termination of employment (other than gross misconduct) or a reduction in the number of hours of employment are “qualifying events” that would allow employees to become eligible. The United States Department Of Labor offers additional information online.
However, it is possible that premiums (even after the subsidy) will be expensive and possibly unaffordable. If there are no existing major medical conditions, an individual insurance policy is an alternative to COBRA health insurance. Depending on age, zip code and some other factors, rates may be quite affordable. And this type of coverage can be kept indefinitely, without the worry of a major health condition occurring just before coverage expires. There are many alternatives and we’re happy to review them with you.
We’re the state’s preferred choice for affordable Ohio COBRA health insurance alternatives. Anthem Blue Cross, Aetna, Medical Mutual and UnitedHealthOne are some of the major insurers we consider when researching your options. If you would like to instantly view your options, please click on the “Quote” button at the top of the page. Your personal information will never be shared with any other person or company.