The cost of health insurance can be daunting and onerous to predict, especially for the self-employed. The Consolidated Omnibus Budget Reconciliation Act, or COBRA, allows employees and their families to stay on an employer-sponsored group plan for as a lot as 18 months after it might have in any other case been terminated. COBRA health insurance is dear but may help in sure situations—including transitioning from a job with employer benefits to self-employment. Catastrophic health insurance offers affordable, complete coverage for people underneath 30 and people going through severe economic hardship, corresponding to homelessness. This category includes critical illness insurance or accident plans, which cowl a predetermined record of health points, and indemnity plans, which move on costs more to the affected person. Limited profit plans additionally provide pared-down protection at a cheaper price.
