Healthcare Cost Strategies – COBRA

How many times have you had a Student-athlete show up on campus with an insurance card in hand and come to find out that the card is no longer valid after an injury occurs? In most cases you will find the card was once active, but the student-athlete lost coverage at some point and the card is no longer valid. When this happens, a step you could take to control expenses is to elect COBRA (Consolidated Omnibus Budget Reconciliation Act) on that student-athlete. COBRA is a continuation of coverage benefit enacted by the federal government in 1985. This act allows for continuation of coverage on a group medical plan should coverage be lost due to a qualifying event. By electing COBRA, you could take a large claim and have the costs picked up under primary coverage rather than having all the cost gone toward your secondary insurance. There are specific rules and timeframes as to when this can be done, but the bottom-line is that anyone person can elect COBRA for anyone. The cost of electing COBRA on a large claim and paying for the premiums for the duration of the injury will be far less expensive than paying for the entire injury and having the claim go against your loss runs.

We have to be diligent in our work today to contain costs!

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