There is a bill in Congress aimed at extending the stimulus package that provides government assistance in paying for C.O.B.R.A. (Consolidated Omnibus Budget Reconciliation Act) health insurance benefits from the current nine-month period to 15 months. C.O.B.R.A. allows former employees to keep their health insurance coverage, but requires that they absorb 100% of the cost. A portion of the government’s stimulus package was directed at temporary assistance with these payments. If this bill is not enacted, all government contributions towards C.O.B.R.A. will end at the subsidy expiration date, which is December 31, 2009. This could leave millions of unemployed people without health insurance, and will cause many of them to begin shopping for some type of affordable health insurance plan to provide basic coverage.

If this should occur, the first thing that you will need to do is contact various insurance agents and brokers, as they will be able to assist you on finding an health insurance policy that will adequately replace the one you will be losing. You should also contact the insurance company that is supplying your C.O.B.R.A benefits, as they may be able to offer you an individual plan that has the coverage you are looking to keep with the plan you are currently holding. You may even want to contact this insurance company first, before calling insurance agents and brokers.

Although your current insurance company may offer you a new individual insurance plan, you should still continue to get policies from other insurance companies so they you can find those that are comparable in coverage, and all out of pocket expenses. Once you found policies that are completable then you should contact these companies to obtain quotes for the individual policies. Once you have the premium quotes you should then compare each policy for cost in order to find that one policy that will offer you the medical coverage you are looking for at the lowest annual cost.

The cost of each insurance policy that you are reviewing can vary drastically, therefore you should look through them carefully and ask a broker or insurance agent to clear up any questions that you may have. An insurance agent or broker are skilled in this particular field and will be able to provide you with clarification on all areas of the policies. If you find that none of the policies you received are suitable for your budget, then you should begin to research other avenues for your medical insurance coverage.

There are two other options that you can choose if you are unable to find an affordable premium. The first is to look into local groups or organizations that you may be interested in joining. Often times these clubs and organization will carry a group insurance plan, where the members will be able to by into medical coverage at a reduced cost. If you are unable to find any organizations in your area, your second option would be to purchase a high deductible policy. Although this policy will cost you a large amount in deductible fees, your monthly premiums will be much less. With high deductibles policies, however, you will want to be sure to save up the funds required to cover your deductible should you need medical assistance. Your insurance company will not pick up the coverage unless you have completely met the deductible of your plan.

When you are trying to research a variety of health insurance quotes in order to find health insurance coverage that is adequate and affordable go to www.healthquotefinder.com.

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