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First off, good luck with your new venture! Being a small business owner can be very rewarding. Even if the money isn't any better than before, you will get a great sense of satisfaction from being your own boss. I've been a health insurance agent since 1985 and will do my best to answer your question. COBRA is often more expensive than a health insurance plan that you can get on your own. This assumes that you and your family are healthy and can qualify medically. The main advantage of COBRA is that you cannot be turned down for it. In most instances you can keep it for 18 months. After that you will need to find other coverage. This brings up the big disadvantage of COBRA. You can't keep it beyond a certain period of time. Unless COBRA is significantly less expensive than a comparable plan, you should look into getting a plan that you can keep until you qualify for Medicare. Even if you are healthy now, you may not be healthy in 18 months when your COBRA ends. In my state of Connecticut, it is cheaper to purchase an individual health insurance plan as opposed to a group insurance plan. However, the reverse may be the case in your state. You should check into both kinds of plans. I've put together a list of links to Insurance Departments: lovetherates ... I suggest that you check with your state's insurance department and see what plans are offered in your area. Good luck.

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by NorthSee

2 years ago

Asker's Rating: 

may want to check, but believe cobra only kicks in when no longer employed by company, would you still be considered an employee during leave of absence? in any event under cobra you must pay the FULL premium. only protection cobra really offers is the availability of insurance' depending upon situation and need for insurance, an hsa is the cheapest and most flexible, but carrieshigh deductible.

by glenn b- 2 years ago

www ... this will help you

by business in texas- 2 years ago