The Consolidated Omnibus Budget Reconciliation Act (COBRA) gives workers and their families who lose their health benefits the right to choose to continue group health benefits provided by their group health plan for limited periods of time under certain circumstances such as voluntary or involuntary job loss.

Obamacare, also known as the Affordable Care Act (ACA), is a comprehensive healthcare reform law enacted in March 2010, aimed at improving the accessibility, affordability, and quality of healthcare in the United States.

The primary goal of the ACA is to provide affordable health insurance coverage to millions of uninsured Americans by offering financial assistance, and implementing consumer protections.

Under the ACA, health insurance is available through the Health Insurance Marketplace.

These plans are categorized into four different tiers: bronze, silver, gold, and platinum. The bronze, silver, and gold plans offer different levels of coverage and pricing to cater to the diverse needs of consumers.

Bronze plans typically have lower monthly premiums but higher out-of-pocket costs, making them a suitable option for those who are relatively healthy and do not expect to use many healthcare services.

Silver and gold plans have higher monthly premiums but lower out-of-pocket expenses, making them a better fit for those who anticipate using more healthcare services or have chronic conditions.

HMOs (Health Maintenance Organizations) are a lower cost alternative to PPOs, offering less flexibility but also lower premiums. HMO members must receive care from doctors, specialists and hospitals that are within the HMO’s network. Unlike a PPO.

You select a primary care physician, or PCP, who serves as your primary contact for all of your healthcare needs. They must also be consulted in order to see a specialist.

One of the most popular options is a Preferred Provider Organization (Also known as PPO). PPO includes individual and family health coverage options.

Healthcare is provided by a network of providers who are partnered with the PPO plan and offer a substantial discount to their normal rates.

Members can also receive service from providers outside of the network for a higher out-of-pocket cost.

The term indemnity insurance refers to an insurance policy that compensates an insured party for certain unexpected damages or losses up to a certain limit—usually the amount of the loss itself. Insurance companies provide coverage in exchange for premiums paid by the insured parties. 

 Long term health insurance or long duration insurance refers to health insurance plans that are meant to be held for a long time, typically at least one year or longer.

They are a great solution when you have a stable job or situation that you know you’ll be in for a long time. There are plans available where rates do not increase for some time.

Short term health insurance or limited duration insurance refers to health insurance plans that are temporary, typically several months to a year.

They are a great solution when you’re between jobs, a recent college graduate, or waiting for group coverage to start. Short term health insurance policies always have a termination date that you choose when you apply.