For anyone living in Arizona who recently quit, lost, or even retired from their job; likely you are thinking about COBRA insurance and what role it could potentially play in your health care future. At the same time, it is likely that you are also trying to understand all your options and find the best one for you and your family. Arizona COBRA insurance may be the best option for that, but there may be other options as well that can provide similar insurance at a much lower cost.

Option 1: Federal COBRA Insurance or Arizona COBRA Insurance

Most people begin their health insurance search by considering COBRA insurance. This makes sense because it is the easiest health insurance option for most people if they qualify. Under COBRA insurance most people who work at companies with 20 or more employees, and who weren’t fired for gross misconduct, will qualify for COBRA health insurance coverage. With COBRA, the employee and their family members are able to keep the exact same health plan for a time normally up to 18 months. The major drawback to COBRA coverage is that the employee must pay for the full cost of health insurance. In most cases this is over $1000 monthly for a family of four. The cost of COBRA is that high because the employer no longer contributes and pays for some of the cost of health insurance.

In some states there are also state sponsored COBRA insurance programs for people who work at smaller companies and want COBRA. Unfortunately the state of Arizona currently does not offer an Arizona COBRA insurance plan. That means if you don’t qualify under the federal plan for COBRA, you will need to seek out alternative insurance.

Option 2: Private Health Insurance

The second option that you should consider when thinking about health insurance is private health insurance. Many people shy away from private health insurance and just sign up for COBRA because they think the price will be too high. However for healthy individuals and families, private health insurance can be much less expensive than COBRA. In fact, a healthy family of four on average saves over $600 monthly by using a private health insurance plan. To learn more about private health insurance, get a free quote and explore the available plans in your area.

The most comprehensive health insurance plans offered by companies will be individual and family plans. In addition there are also very affordable plans for people who only want to be covered for emergencies. These plans are normally known as catastrophic health insurance or high deductible health insurance. They can start as long as about $50 monthly but only cover emergencies.

Option 3: State Sponsored Health Insurance

The last place to look for health insurance after job loss is to explore government sponsored health insurance in Arizona or offered through the federal government. Many times children will qualify for these plan as well seniors. Depending on your income there may be a program available that will offer free or reduced health insurance to you and your family.