Solutions

The goal of the ARRA COBRA provisions, further extended by Department of Defense Appropriations, was for persons "involuntarily terminated" to remain insured. While admirable, with today's economy, employers may not be in a financial position to pay the premiums and wait for the tax credit or reimbursement. If you cannot pay the COBRA premiums, wait for reimbursement and stay in business, you have an option. A strategy to eliminate current and future COBRA liability is to cancel your master contract and opt for individual medical insurance. No one should go without health insurance coverage. Individual medical coverage is generally available, even for those who have medical conditions. * (The rates for individuals with health conditions may be higher.)

I NEED HELP with Individual Health Insurance.

For sample rates on individual health insurance, CLICK HERE.

I DON'T UNDERSTAND THE COBRA REQUIREMENTS.

The COBRA components of the American Recovery and Reinvestment Act may be very confusing and difficult to administer. However, unless you are in a position that compliance with the Act will cause you to be unable to continue operations, the prudent business decision is to continue offering group benefits to your employees. For help understanding this legislation, contact us at 602-277-2144 or cobrastimulussolutions@blackgould.com, or call your broker.

Before making a final decision, please consult your financial, legal or benefit advisors.

*Individual medical insurance may be available based on medical conditions and subject to the HIPAA portability requirements.