Group and Employee Benefits*
If you are leaving your job and eligible for State Continuation or Federal COBRA, NSIA can help look into alternative health plans that might be a better fit for you and your budget. NSIA can help obtain health, dental and vision quotes from multiple carriers in order to find the best plan at the right price for you and your family.
- Group Life, Health, Dental and Vision
- Health Savings Accounts
- Health Reimbursement Accounts
- COBRA and 125/129 Administration
- Keyman and Buy-Sell Life Disability
- Group Disability and Business Overhead
- Group Long Term Care
- Employee Voluntary Sponsored Plans
COBRA or the Consolidated Omnibus Budget Reconciliation Act requires that covered employees and spouses (including former spouses) are offered continuation coverage for health care. This coverage can be more costly than the other group insurance plans employees and others were covered under. This is because the employer usually paid part of the group health insurance premiums while the employee maintained his or her employment.
What Are Your Options
Employees and other covered members of their families must be provided with notices that explain what rights covered employees have. In addition, any group medical insurance must also provide to covered employees information about COBRA within the first 90 days that they are covered.
The loss of job-based group medical insurance coverage is considered a special event in the Health Insurance Marketplace. You can compare the options for private health insurance and see if you qualify for tax credits. These credits will not keep you from qualifying for COBRA coverage. COBRA coverage may be a good choice for you if you need health care coverage in the time between when your employment-based coverage ends and another health insurance coverage is in place. We will be happy to help determine what is best for your needs.
Note that in some cases you can move off of COBRA with a qualifying event or you might have to wait for open enrollment which would allow you to move over to an indvidual plan on 1/1 of the following year. We will be ahppy to discuss your alternatives, no charge.
Our team is equipped with the knowledge and experience to help you find an innovative solution to all of your health insurance needs- whether it be for your business's employee group plan or any individual need that might arise.