U.S.: COBRA insurance on unemployment: Is it worth it?
- One group says no Families USA, a non-profit health consumer group, blasted the Consolidated Omnibus Budget Reconciliation Act of 1985, which provides health care to the unemployed, but at a significant cost.
- The breakdown About 18-26 percent of people with COBRA available as an option use it, according to a report published by the group. Many are stuck with the expensive insurance because most healthcare providers won’t cover pre-existing conditions.
- A passionate attack“The right to COBRA health coverage is a tragic ruse for millions of families whose breadwinner was laid off,” says the group’s executive director, Ron Pollack. With a rising unemployment number, he notes, many more people will be faced with the undesirable dilemma of using COBRA. source