With the Arizona unemployment rate currently at 9.3%, health insurance brokers in the Grand Canyon state have spent a lot of time helping newly unemployed clients determine the best choice for their health insurance coverage – COBRA or temporary health insurance. 

Are you recently unemployed and looking for an insurance policy that is affordable?  It may seem easier to pay for COBRA, since it doesn’t require a change in policies, but this is usually the most expensive option. 

There are some obvious differences between the two, but it is important to make an educated decision because the type of plan you choose could have a serious impact on your financial future.  The best way to figure out which temporary health insurance plans will best meet your needs is to have an Arizona health insurance broker pull some quotes for you.  Not only will this save an enormous amount of time and money, but a good broker will know enough about the plans to make sure you buy the right one. 

 

Most people are already familiar with COBRA, which stands for the Consolidated Omnibus Budget Reconciliation Act.  This law provides for the continuation of group health insurance coverage for employees who are no longer working for a company, and whose benefits would otherwise be terminated.  While this option is always there for employees who need it , it is usually too expensive for the recently unemployed. 

On the other hand temporary health insurance is a more affordable option for medical insurance that becomes effective immediately.  It requires no pre-screening and can be kept for as little as 30 days or as much as 180 days.  It can be paid monthly or in a single installment, and it is the ideal coverage option for people who are between jobs or laid off temporarily.  Students who have recently graduated from college and haven’t yet found a job with benefits, or new employees waiting for their coverage to begin can buy a temporary health insurance plan for an interim period. 

The best way to find a temporary health plan in Arizona is to work with an experienced AZ health insurance broker.