Lately we have been getting a number of emails and questions about what exactly a health insurance premium is. Understanding what is a health insurance premium is important for anyone considering COBRA health insurance or any health insurance. Basically all a health insurance premium is, is how much the health insurance costs every month.
In many cases, the health insurance premium for someone who is employed is largely subsidized by their employer. This means that their employer pays the majority of the health insurance cost. For example, many employers subsidize up to 80% of the health insurance premium which means that the employer only pays 20% of the cost.
If you are considering COBRA insurance it is important to completely understanding what is a health insurance premium because you will be responsible for paying the entire thing. To calculate the cost of your COBRA insurance premium, add together what you pay monthly with what your employer pays. Then add a 2% administration fee. This information is normally found on your pay stub and can also be found out by contacting your plan administrator.
Many people know that COBRA health insurance is an option if you are laid off from your job or quit your job, but what if you were fired? Well in most cases that probably depends on what you were fired for. Under the federal COBRA insurance laws, employees are entitled to COBRA insurance under the qualifying event if they lost their job for any reason that isn’t gross misconduct. So what is gross misconduct. According to the courts, gross misconduct is : 
Not having health insurance can not only be scary but extremely costly if you do end up getting sick. However, millions of people go without health insurance everyday due to the high cost of having health insurance if you are unemployed. If you are considering health insurance for the unemployed, here are four choices you may want to consider.
Signing up for and enrolling in COBRA insurance allows you to keep the exact same health insurance plan you had with your employer at full cost. Since the plan is the same, in most cases you can add a dependent, like a child, when there is a qualifying event. So if you adopt a child, have a child, or even get married to someone with a child, those children can be added to your COBRA plan. However, if you previously has a child and you didn’t include them on your health insurance plan it may be difficult to add them to COBRA insurance plans. You will have to check with your health insurance provider to find out.
Many people think that COBRA insurance is only for someone who recently lost or quit their job, however COBRA health insurance actually extends to a much larger group of people who lost their health insurance coverage for a myriad of reasons. One of those reasons under the COBRA insurance laws is legal divorce or separation.
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