Why is my COBRA so expensive compared to My Insurance Expert health insurance plans?

COBRA can cost between 102%-150% of the group coverage you had at your former employer. Individual health insurance is less expensive because the carrier assesses your health insurance risk based on your age, weight, sex and zip code. Since this pool of people is much larger then most group plans the risk or cost of the insurance is lower.

Is COBRA coverage better than an individual health insurance plan?

Cobra expires after 18 months. Under HIPAA any period of time that you are receiving COBRA continuation coverage is counted as previous health coverage as long as the coverage occurred without a break in coverage of 63 days or more. If you get sick during these 18 months then there is a possibility you will have a difficult time finding health insurance. we recommend to all of our clients to purchase individual health insurance as soon as possible in order to avoid this horrible scenario. COBRA is not considered credible coverage by insurance carriers.