Health Insurance by Arthur Benz

written by Arthur Benz
President, oXYGen Financial Insurance, Inc.
Insurance Agency

There are announcements almost every day of layoffs across the country. With roughly 10 percent unemployment across the United States people are concerned about their health insurance coverage. One of the things that we’ve been hearing is that people simply do not know whether to utilize COBRA coverage or purchase their own separate policies.

The reality is that there is not a 100 percent right or wrong answer here. Your ultimate decision will hinge on your current health conditions and needs. There are many factors to consider. A couple of those factors are price and pre-existing conditions.

In general, the price of a COBRA policy is usually higher than a policy purchased independent of a group. The reason for this is that COBRA coverage is still associated with your former employer and the group must absorb all of the risks associated with each person attached to the group. In turn, the insurance carriers charge a higher base rate to cover these risks. Many consumers are finding individual policies are much more cost effective however there are many others that run into problems due to pre-existing conditions. Groups must cover certain basic risks by law, but individual policies are not subject to the same rules. If you are overweight, have high blood pressure or any number of other possible health related issues, insurance carriers can either deny you coverage or rate up the premiums.

At the end of the day, you need to weigh all of your choices carefully before you make a decision. Don’t get caught off guard with a bad decision. It could mean the difference between getting health care and not being able to afford to go to the doctor.

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About the author  ⁄ Ted Jenkin @ Your Smart Money Moves

Ted Jenkin @ Your Smart Money Moves


My friends and family all think I’m a workaholic, but I say I’m just a guy that loves to help people do better in life.

My mother is still the only one that calls me by my real name Theodore Michael, my wife calls me Teddy, but for the rest of you it is just plain old Ted.

Ever since I was a little kid, I always loved money and being an entrepreneur. In fact, I still have cassette tapes of me talking to my grandmother at the age of five and my mother tells me all the time how much I played with money as a kid...

Read More About Ted Here

Ted Jenkin is a frequent guest columnist for the Wall Street Journal and Headline News Weekend Express. He is the co-CEO of oXYGen Financial. You can follow him on LinkedIn @ www.linkedin.com/in/theceoadvisor or on Twitter @tedjenkin.

Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. oXYGen Financial is not affiliated with Kestra IS or Kestra AS. Kestra IS and Kestra AS do not provide tax or legal advice.

The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra Investment Services, LLC or Kestra Advisory Services, LLC. This is for general information only and is not intended to provide specific investment advice or recommendations for any individual. It is suggested that you consult your financial professional, attorney, or tax advisor regarding your individual situation. 

Background and qualification information is available at FINRA's BrokerCheck website.

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