Page 118 - Group Insurance and Retirement Benefit IC 83 E- Book

convert within 180 days before COBRA ends. But you'll pay individual, not group, rates,

and switching to individual coverage could us COBRA Insurances any HIPAA
protections you have.

Moving: If you relocate out of your COBRA health plan's coverage area, you will lose

your COBRA benefits; the employer is not required to offer you a plan in your new area.

Premium costs: Your premiums can be increased if the costs of the health plan increase

for everyone at the workplace, but generally they must be fixed in advance of each 12-
month cycle. The plan must also allow you to pay premiums on a monthly basis if you

want.

Premium notices: Neither the health plan nor the employer is required to send you

monthly premium notices, so COBRA Insurance sure you pay attention to due dates.

Disability: People eligible for Social Security disability benefits may receive COBRA
coverage for 29 months.

Before we discuss the specific details of group disability income insurance, let's briefly

review the basic principles of group insurance coverage‘s. In general, group insurance
refers to various insurance products available to those who collectively belong to a

definable group, as opposed to individually pur-chased insurance policies. The most
common type of group associated with group insurance is employment related.

Employers frequently offer insurance to their employees as a way to attract and retain
high quality people.

Although group insurance includes life and health coverage‘s, this chapter addresses only
group disability income insurance, which is a member of the health insurance family.

While many benefits are the same as those found in individual DI policies, group DI

insurance is defined by several distinctive features discussed in this chapter.