When you are covered by a group insurance plan, you are paying a small amount of the premium for that coverage; your employer typically covers the rest. If you lose your job due to a triggering event such as leaving voluntarily, being laid off or termination, your employer will send a notice to COBRA and provide you with the option of temporarily continuing the same coverage under the same plan as long as you pay the full premium.
If you qualify, this type of coverage is extremely beneficial since it provides clients with the opportunity to keep their current coverage while either looking for a new job or shopping around for new coverage. During this time, your coverage stays the same, so you won’t have to look for a new doctor and you will retain coverage for pre-existing conditions. In the face of job loss, this grace period protects you and your dependents in a time of need.
Are there any Drawbacks?
As with any insurance plan, it’s important to verify that you qualify. By communicating with your employer and understanding the full scope of your coverage, you can better understand what to expect with COBRA rehab coverage. One of the downsides of COBRA is that it does not protect employees if the company ceases to offer benefits. So if your employer goes out of business, or cancels group coverage, you will need to find new coverage right away. Contact us to learn more about COBRA insurance alcohol rehab coverage and drug rehab coverage.