The last year-plus has been tough on many Massachusetts workers and families. Largely due to the Covid-19 pandemic, the state lost nearly 273,000 jobs.

Employment loss causes many concerns over finances and well-being. One major concern is the loss of employer-based health insurance.

Many people use COBRA as a stop-gap way to maintain health insurance. However, there are many drawbacks to COBRA, including its high cost.

The good news is that there are alternatives to COBRA Health Insurance in Massachusetts. Read on to learn about COBRA alternatives. Explore how alternatives to COBRA can help you keep health insurance costs down while retaining quality coverage.

What Is COBRA Health Insurance?

Before diving into the alternatives, it is important to define what COBRA health insurance is. COBRA is continuation health insurance for members of a group insurance plan.

A COBRA situation typically arises when an employee leaves a company with group health insurance. COBRA continuation coverage only lasts for a limited time. It is designed to give a person time to find new health insurance.

The biggest downside of COBRA health insurance is cost. No longer an employee with health benefits, the person is now responsible for the entire insurance premium. The individual now pays the employer’s portion of the bill.

What Are the Alternatives to COBRA?

A large number of people cannot afford COBRA benefits. They recently lost their job and cannot pay a health insurance premium that is significantly more expensive. These individuals are desperate for alternatives to COBRA.

There are short-term health insurance plans that offer a cheap and quality alternative. Many customers desire these plans because they are significantly cheaper than COBRA.

Short-term plans also provide customers with flexibility. In a state of flux after employment loss, many health insurance shoppers do not want a long-term commitment.

Shopping for health insurance is overwhelming for many. There is a lot more to consider besides monthly costs. Factors such as deductibles and coinsurance rates require equal consideration.

Fortunately, there are licensed insurance agents to help you find the right alternative to COBRA. After a few questions, they can get you an insurance quote in minutes.  

These agents provide quotes from reputable health insurance companies in the states. These include big names like BlueCross BlueShield, Aetna, and Cigna.

Another alternative is to shop on the Massachusetts Affordable Care Act (ACA) exchange. It is called Health Connector and allows you to shop for qualified insurance plans. There, you can also get estimates and submit an online application.

The downside is that you may not receive the same personalized customer service with Health Connector. Also, the ACA requires specific criteria to be met. The short-term, flexible plan you are looking for may not be offered.

Alternatives to COBRA Health Insurance in Massachusetts

You do not have to settle for expensive COBRA health insurance after an employment change. While the plan continues coverage, it is likely to stress your personal budget without the employer’s contribution.

A short-term health insurance plan can serve as a stop-gap during this challenging time. Licensed insurance agents help you find a reputable and affordable plan. If you enjoyed this article about alternatives to COBRA health insurance in Massachusetts, check out our blog for more great content.

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