COBRA Health Insurance Conversion Plans
COBRA health insurance conversion plans have a few very important qualities that you're going to want to know about. Learn more about COBRA health insurance conversion plans with help from the President of The Stratford Financial Group, Inc. in this free video clip.
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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 talk about Cobra Health Insurance conversion plans. Cobra is the federal labor law that provides qualified beneficiaries the right to continue their group insurance coverage that may otherwise be lost or terminated. So after electing Cobra's insurance and depending on the qualifying event you have experienced, you will be allowed to continue your coverage for a period of 18 or 36 months. At the end of that time frame, you will have two options to replace your Cobra coverage. The first is to investigate whether or not your current carrier offers a conversion policy. This is typically an individual policy which may have different benefits and will likely have very different premiums but will allow you to continue coverage through the same insurer. The second option is to investigate the individual marketplace. Often times your current carrier as well as many other carriers will offer replacement coverage. It's important to convert to a conversion policy or an individual policy without any break in coverage from your last date of coverage under cobra. My name is Jeffrey Ingalls. I'm the president of Stratford Financial Group and Stratford Employer Services in Wayne, New Jersey. We can be found at www.Stratfordlink.com and you just watched Cobra Health Insurance conversion plans. Thank you.