The Cost of Your Health
Management 5990-01
Spring 2014
Brandon Connelly

Our health is one thing we cannot take chances with. An essential part of our lives is ensuring we put our health, and the health of our family, at the utmost point of our priorities. When we experience a situation that threatens the security of that health, we call in our backup, insurance. Insurance is how we live. It is a means of aid, in times where health is paramount and the costs to bring us back to that point, can be higher. We are afforded insurance through our employer, in most cases. Generally, in a family situation, the mother or father accepts the insurance through their employer. This is usually decided by weighing the costs and coverage of …show more content…
We cannot always properly prepare for these situations, as they can be sudden. These events are known as qualifying events. The events include the death of a covered employee, deduction of hours or termination of employment of employee, divorce or separation from covered employee, and loss of dependency of a child, to name a few.
Decisions need to be made when these times are upon us. One of the biggest decisions is where to get the health coverage that individuals and families need and rely on. This decision, for many people, is made in favor of COBRA Healthcare. While this decision fills a much needed gap in coverage needs, the cost brings forth another headache to many looking for relief.
COBRA is an acronym standing for Consolidated Omnibus Budget Reconciliation Act. It was enacted in 1985. According to (“COBRA Insurance & Medicare”, n.d.), COBRA is a law that requires employers with 20 or more employees to let employees and their dependents keep their group health coverage for a time after they leave their group health plan under certain conditions. This is a federal law, extending to all full time employees in a private sector business above the mentioned 20 employee …show more content…
Our country suffered the worst economic meltdown of this century. Many dubbed this period, “The Great Recession”. Corporate America was taken hostage from the world of profits and shares it had come to know. With this epidemic, jobs became scarce and insurance, at times, scarcer. For many citizens, they had to make a choice about their health and the health of those they love. For many, they chose COBRA, but wished there was a better way.
That better way could be Obamacare, formally known as the Affordable Care Act. In 2010, Obamacare was signed into law by President Barack Obama as an alternative to COBRA. This brought about a strong awareness of these two options and created a new opportunity for those who would seek it. Unfortunately, this option was not embraced by all and it was put through heavy criticism regarding its constitutionality. Finally, in 2012 Obamacare was upheld in the US Supreme Court after a lengthy debate throughout the nation.