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Article: 2insure4less.com Helps Consumers Find Affordable Alternative to COBRA for Unemployed.
- Article from:
- Business Wire
- Article date:
- December 8, 2008
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Copyright informationCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NORTH HOLLYWOOD, Calif. -- With the current unemployment rate hovering around 6 percent and expecting to rise to 7 percent by May of 2009, workers with serious health problems or families are faced with a health insurance conundrum.
COBRA, the Consolidated Omnibus Budget Reconciliation Act (COBRA), was put in place as a temporary bridge between transitioning healthcare coverage but the current job market is making the COBRA ACT an expensive bridge for many unemployed workers to cost. Under COBRA a health plan can charge 102 percent of the actual premium costs.
"Financial analysts expect the current recession to mean longer lengths of unemployment as jobs become ...