How to Stay on an Employer's Health Insurance Plan After Termination

Save
Next Video:
What Is an ERISA Health Insurance Plan?....5

Staying on an employer's health insurance after termination requires you to utilize a law called COBRA. Stay on an employer's health insurance plan after termination with help from the president of The Stratford Financial Group, Inc. in this free video clip.

Part of the Video Series: Health Insurance & More
Promoted By Zergnet

Comments

Video Transcript

Hello, I'm Jeffrey Ingalls; President of Stratford Financial Group and Stratford Employer Services in Wayne, New Jersey. And right now, we're going to discuss how to stay on an employer's health insurance plan after termination. The way you can remain on an employer's health insurance plan subsequent to your termination is by utilizing a federal labor law known as COBRA. COBRA provides former employees, their spouse and dependent children the right to continue coverage at group insurance rates. Within 14 days of your termination, you will receive a qualifying event notice and election form. You will need to complete the election form and return it making a formal election within 60 days. Upon making your election, you will have 45 days in which you can remit the total retroactive premium for the amount of time that has have lapsed since your lost of coverage. Future premium payments need to be made by the due date announced in the COBRA election notice and you are also extended a 30-day grace period in which to make your premium payments. I'm Jeffrey Ingalls; President of Stratford Financial Group and Stratford Employer Services in Wayne, New Jersey. We can be found online at www.stratfordlink.com and you just watched how to stay on an employer's health insurance plan after termination. Thank you.

Featured

Related Searches

M
Is DIY in your DNA? Become part of our maker community.
Submit Your Work!