Losing your job is one of the most stressful events anyone can experience. The sudden loss of income, combined with the uncertainty of what comes next, can leave you feeling lost. If you’ve recently been laid off, we understand the emotional toll it takes. And just when you’re trying to catch your breath, there’s another major concern staring you in the face—health insurance.
One of the first things you’ll hear about is COBRA, a way to keep your previous health insurance plan. While COBRA sounds like a convenient solution, many people are shocked when they see how much it costs. At Emmie Mae Health Advisors, we’re here to guide you through this transition and help you find better, more affordable options.
What is COBRA, and Why Is It So Expensive?
COBRA (Consolidated Omnibus Budget Reconciliation Act) allows individuals to keep their employer-sponsored health plan for a limited time after leaving their job. While this may sound like a great way to maintain your coverage, there’s one big catch: you’re now responsible for paying the full premium yourself.
When you were employed, your employer likely covered a significant portion of your health insurance costs. Now, under COBRA, you’re responsible for the entire premium plus an administrative fee. What used to be affordable now seems like an overwhelming expense. For many, it can feel like a heavy burden at a time when you’re already financially stretched.
The Real Cost of COBRA
To put it into perspective, the average employer-sponsored health plan costs over $20,000 per year for a family, with employers typically covering about 75% of that cost. When you’re on COBRA, you’re suddenly responsible for the entire premium, which can easily amount to over $1,500 per month. For someone who just lost their job, this cost can feel impossible.
Here are some numbers to consider:
Single coverage: COBRA costs range from $400 to $700 per month.
Family coverage: COBRA costs can easily exceed $1,500 per month.
That’s money that most people can’t afford after losing their job. And while COBRA may keep you with the same coverage, it’s often not the best or most affordable solution.
Affordable Alternatives to COBRA
The good news is that you don’t have to settle for the high cost of COBRA. There are other affordable health insurance after a layoff options out there, and we at Emmie Mae Health Advisors are here to help you explore them.
Private Market Health Insurance is often a much more affordable solution. These plans can offer comprehensive coverage for individuals and families at a fraction of the cost of COBRA. Here are a few reasons why private insurance may be the better option for you:
Affordability: Private plans tend to be much cheaper than COBRA, offering similar or even better coverage without the steep monthly premiums.
Flexibility: With private insurance, you have the option to customize your coverage based on your needs, choosing plans that focus on essential benefits while cutting out unnecessary extras.
Comprehensive Coverage: Many private market plans offer nationwide PPO networks, so you’re not restricted to local providers and can access the care you need, wherever you are.
Added Benefits: Some private plans include dental, vision, and even short-term disability options, giving you more control over your healthcare needs.
At Emmie Mae Health Advisors, we specialize in helping people find affordable, personalized health insurance solutions, particularly after a layoff. Our goal is to help you feel empowered in a difficult situation and secure the protection you need without breaking the bank.
Why Private Health Insurance Could Be Your Lifeline
Private health insurance plans offer a level of control and customization that COBRA simply can’t match. You can choose plans with lower premiums or find coverage that matches your specific health needs without the unnecessary extras.
For example, many private plans offer:
Lower premiums compared to COBRA. Customizable deductibles and copays, allowing you to adjust your plan to meet your financial situation.
Access to top-rated healthcare providers through nationwide PPO networks, so you’re not limited to a specific location or provider.
More flexibility to add or remove coverage for dental, vision, and other essential services.
If you’ve just been laid off, it’s important to evaluate all of your options carefully. With private health insurance, you can take control of your healthcare and avoid the financial strain that comes with COBRA.
We’re Here to Help You Through This Transition
At Emmie Mae Health Advisors, we understand how overwhelming a layoff can be. Our mission is to make sure you don’t have to face the additional burden of expensive health insurance. We’re here to help you explore the best options for your situation, ensuring you get the coverage you need at a price that works for you.
You don’t have to settle for COBRA’s high premiums. With our expertise, we can guide you through affordable alternatives, offering protection and peace of mind during this challenging time.
Contact Us for a Free Consultation
If you’re struggling to find affordable health insurance after a layoff, don’t hesitate to reach out. At Emmie Mae Health Advisors, we offer free consultations to help you understand your options and find a plan that fits your needs and budget.
You can contact us in the following ways:
Call or text: 602-662-9988
Email: [email protected]
We’re committed to providing protection you can trust and care you can feel. Reach out to us today, and let’s navigate this journey together.