If you lose your job anywhere in the US, including Texas, one of the many questions you’ll have is: “Will I lose my health coverage, too?” If you’re an employee at a company that has 20 or more employees, and you leave your group plan for reasons other than gross negligence, you’ll be offered COBRA continuation coverage. The question is, should you take COBRA or look for another plan?

This federal law, known as COBRA (Consolidated Omnibus Budget Reconciliation Act of 1985), fills that important gap for health insurance plans for qualified workers, their spouses, and their dependent children so their health insurance does not have to stop when they leave their job.

Under COBRA, if you voluntarily resign or are terminated for any reason other than “gross misconduct,” you are guaranteed the right to continue your former employer’s group plan for individual or family health insurance for up to 18 months at your own expense. In most cases, spouses and dependent children are also eligible for COBRA coverage, sometimes for up to three years. However, individual plans – plans you purchase on your own, rather than through work or an association – are not subject to COBRA laws, and once you lose that coverage, you won’t be able to get an extension under COBRA.

One of the things many employees don’t know about enrolling in COBRA are its “hidden” costs. Your employer can charge up to 102% of the premium they pay for “similarly situated employees.” Health insurance premiums for most groups are “composite rated”, meaning that the premiums aren’t based on age. COBRA rates for these groups are based only on family status. Obviously, it costs more to insure the average 55 year old than the average 25 year old. So, if you’re a young, healthy individual who elects COBRA, your premiums will be subsidizing older people in your group. As a result, unless your health is impaired or your former employer subsidizes the COBRA payments of former employees (which is highly unlikely), you can assume that a non-age-rated COBRA policy will never be as good a deal as an individual health insurance plan can be.

There’s also the factor of “sticker shock,” in terms of an employee not realizing how much an employer has been paying for group healthcare until the employee gets his or her first COBRA bill. Group health coverage for COBRA participants is usually more expensive than health coverage for active employees because the employer usually pays a part of the premium for active employees, while COBRA participants generally pay the entire premium themselves.

Many health insurance experts point out that, in spite of the high cost, group insurance is generally less expensive than individual health insurance. Of course, that’s simply not true for anyone who is younger and healthier than the average employee. COBRA is unreasonable for anyone who is younger and healthier because they still have to pay the average premium, which will likely be higher than individual health insurance premiums.

But eligibility isn’t the only issue to consider when it comes to COBRA. Cost is a major consideration too. If you have no pre-existing conditions and decide against COBRA, you should consider buying individual health insurance until you land a new job with health benefits. And even when you do land a new job, it may be better to opt-out of a group plan if you can (taking increased pay instead) and maintain an individual health insurance plan that will be portable from job to job.

If you’re a young, healthy individual who becomes unemployed, even if your employer offers COBRA, consider the cost advantage of an individual health insurance plan, especially with Precedent. For young, healthy individuals, our premiums can be as low as 25 percent of what you would pay in COBRA premiums.

Health insurance companies can be vicious, especially now that they too need to strangle with the global economic crisis. The possibility is made even clearer by the records of complaints against insurers. Anyone can be a victim and it can happen with group, individual, group, and job-based health insurance plans so federal and state laws provide the legal protections. We must never forget though, that these very same laws protect insurance companies as well.

Employer-sponsored group health plan rules are basically the same in different states for it is the federal government that set it. Additional state laws may modify protections, though. Non-discrimination protection, for instance, says that no employer should base eligibility for group health plan on health status. This also applies to benefits offered but not with offering different coverage. As with special enrollment period, 30 days should be given the employee to enroll or change health plan group.

Employers cannot refuse or charge more an individual of a group plan because of pre-existing condition but can impose temporary exclusion period of not more that 12 months, but do not apply to pregnancy, newborns, and genetic information. The waiting period must be counted along with the pre-ex. Receiving medical treatment within 6 months prior to enrolling in the group health plan can limit coverage. If previously enrolled to a group plan without 63 consecutive days break, a certificate of creditable coverage can lessen pre-ex period.

In situations where claims were mistakably not granted with employer-sponsored group plans, internal appeals process or independent external reviewer can help. On the other hand, disputes with individual health insurance, the agent often gives the aid besides the internal appeals process and independent external reviewer. But because insurance companies pay agents, be wary of any fraudulent act and keep the state insurance department at hand.

Individual health insurance plans greatly vary in different states because they regulate them, making employer-sponsored plans offer more protections. One can be turned down of any plan because of health status or pre-existing condition. Other states though, offer guaranteed issue, which means individual health plans are required to sell to all, regardless of health status.

Coverage is strictly limited with individual plans, and may actually exclude benefits such as maternity and prescription drugs. Many impose high annual deductibles, while in some states, coverage of basic benefits are a standard policy. Riders and exclusions may be offered depending on the state rules. Insurers may investigate past medical records and decided whether you have pre-existing conditions. To know whether or not this applies to you and to how long an investigation can be done, check on the state insurance department.

Premium costs also vary from state to state so know the rates. You may be living where there is community rating, wherein health status isn’t a determining factor of how much the premium is. Durational rating with which premium increases at renewal may apply in your place instead of the first mentioned. Also know that there are states that allow re-underwriting wherein premiums increase at renewal when you got sick.

With association-sold health insurance, rules for non-discrimination, special enrollment periods, limits on pre-existing condition exclusion periods, and credit coverage should not be mistaken to be the same with individual and employer-sponsored health plans. Differences may vary from state to state. Before deciding to join any large group, know the state protections that apply such as whether or not a certain policy apply when you are out your state or within the place where you live. Insurers with complaints outnumbering others should definitely not be included in your list of options.

International travel medical insurance goes a long way to insure that you have a trip without fear of encountering medical problems along the way. International travel for both business and pleasure keeps growing at a very fast pace and is not going to change in the near future. Some domestic health insurance plans will cover you away from home but many don’t cover you and especially for major medical expenses.

Domestic travel insurance plans are not designed at all to work well with hospitals and doctors overseas, which can add to your frustration if you have any medical problems while traveling. Generally, in the travel insurance market there are two kinds of insurance products: travel medical insurance (or travel health insurance) which is obviously more heavily weighted to cover you for any health-related problems that might occur while traveling outside of your home country and has a smaller amount of trip cancellation coverage included; the other type is trip cancellation insurance.

Getting a few low cost or cheap international travel medical insurance quotes online from several companies is very easy to do. If you’re looking for a group plan there are a few group insurance plans that are relatively cheap, and if you’re with a tour group or visiting business delegation you could save a lot of money with group travel medical insurance. Whatever compromise in the plan you choose to make between the risks and costs, shop around not only for cheap international travel medical insurance plans, but also for a reputable company that gives you total information, has open view functioning and is not evasive about any of your questions.

Yes you can get cheap international travel medical insurance. The time frame on the insurance policy needs to be restricted to the actual time you’re out of the country; the shorter duration will obviously reduce the cost. Some international travel medical insurance plans don’t accept any travel that may involve hazardous activity such as mountain climbing or skating.

Make sure that the coverage of health and accident insurance covers hospitalization, doctor bills and medications. There are travel medical insurance plans readily available with a wide range of costs and benefits, and with different conditions available through different insurance companies. And some insurance policies don’t cover any pre-existing illnesses, and will ask for your history of medical problems.

You want to keep handy the addresses and phone numbers of the persons who are to be notified in the event you need to make a claim when you’re traveling. Get your international travel health insurance early because many plans have a waiting period after the premium has been paid. One way of lowering your insurance costs is to agree to pay a small initial medical cost of any treatment needed and make a claim from the insurance company only when the amount exceeds that amount; for example, you could agree to pay the first 250 dollars of any medical expenses and make a claim only when the cost of treatment goes above it.

Choosing the right plan obviously involves taking some risks, but people who do are rewarded because the cost of their travel insurance also becomes cheaper. Medical costs all around the world are skyrocketing, due mostly to the advances in specialized equipment and the cost of advanced medicines and training specialists in a number of fields. Make sure that emergency evacuation is fully covered in any insurance policy that you buy. Evacuation can be very expensive.

Remember your utmost greatest financial risk while traveling outside of your home country is if you encounter any major health or medical problem; you want to avoid this risk with the proper coverage. If you already have travel insurance, check to make sure that it covers major medical expenses; many policies don’t.

International travel medical insurance is an important travel necessity for individuals and families when they live or travel outside their home country. Make sure that evacuation coverage is included in your plan, because that can be a major expense; getting you out of a difficult location such as a cruise ship, mountain top or safari can be costly. Make sure you know exactly what is covered in your travel insurance policy.