How to Understand COBRA Insurance

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The key to understanding COBRA insurance rests with your ability to understand insurance as a whole. Learn how to understand COBRA insurance with help from the President of The Stratford Financial Group, Inc. in this free video clip.

Part of the Video Series: COBRA Insurance
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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 talk about how to understand Cobra Insurance. The most important aspect on which to focus your understanding would be what you need to do and when you need to do it. This is information that should be fully explained and provided within your Cobra notices. Your Cobra notice should also direct you, the potential Cobra participant, whom to contact for additional assistance. Many times this will be your employer or former employer. It could be the owner of the company, a human resources professional, or the benefit's administrator. Sometimes the notices will also direct you to the broker or consultant's office. That may be the broker or consultant. It may be a member of their support staff or it may be the dedicated Cobra professional within the firm. The Cobra notice may also direct you to a third party administrator. Many employers choose to outsource their Cobra administration so in this instance you would be speaking to a third party's representative. Still other notices may direct you to the insurance company. The insurance company personnel should be able to let you know what you need to do and when you need to do it. When all else fails you can also contact The Department of Labor or visit their website at www.dol.gov. An important tip to remember is that as a Cobra participant you have the same rights as active employees so as plan changes and the plans renew, you will have the same rights to election as they do. I'm Jeffrey Ingalls, 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 how to understand Cobra insurance. Thank you.

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