Colorado Health Insurance

Erickson Financial Services is aware that there is a lot of confusion revolving around the economic stimulus package and the new COBRA subsidy rules and rights.  If you need more information about the new rules, either as an administrator or as someone who thinks they may be eligible for a subsidy, please take a look at the link below.  This may clear up some of your questions:

ARRA and COBRA Administration

Erickson Financial Services is working hard to identify those of our clients who need to be informed of the new COBRA rules, so if you are one of our clients, please rest assured that we will be sending information to your employees as soon as possible.

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If you are eligible for a COBRA subsidy, you should carefully consider the following before making a COBRA election:

1.)  If you are a healthy individual, you may be able to qualify for a personal plan that will offer you a LOWER premium, despite the fact that part of your COBRA premium is subsidized. 

2.)  As a taxpaying American, choose your options carefully.  The vast majority of people are healthy enough to qualify for affordable personal health insurance WITHOUT having to be dependent upon our government and the taxpayors for health insurance welfare.  If you choose to elect COBRA just because part of the premium is being paid for through a subsidy, just remember that the subsidy is not "FREE"...The American taxpayer is paying for it, and the subsidy program is extremely expensive.  Only those who cannot otherwise qualify for affordable, personal health insurance should consider electing COBRA and the subsidy.

3.)  Remember that COBRA is TEMPORARY insurance.  If you elect COBRA when you would have been healthy enough to qualify for a personal plan of your own, just remember that you will be subject to medical underwriting when you apply for a personal healthplan after your COBRA coverage comes to an end.  If you develop a "pre-existing" health condition while on COBRA, you may find it difficult to procure a personal health plan after your COBRA insurance runs out.  It is always best to secure permanent coverage as soon as possible while you can qualify, rather than elect temporary COBRA coverage.