TriTerm Medical vs. COBRA: What are my options if I’m unemployed?

Losing your job is stressful, but finding healthcare coverage doesn’t have to be. Here’s how TriTerm Medical and COBRA compare — and what to consider before choosing a plan.

When you leave a job, your healthcare coverage may end — but you still have options. COBRA and TriTerm Medical insurance are two options that can help you maintain medical insurance coverage. Understanding how they work can help you manage your needs and budget. Learn the differences between these two options and how each can help you and your family.

What is COBRA?

COBRA, short for the Consolidated Omnibus Budget Reconciliation Act, is a federal law that lets you stay on your former employer’s health plan for a limited time. You may qualify after events like losing your job, having reduced hours or losing coverage as a dependent.¹

COBRA coverage usually lasts up to 18 months, though it can extend to 29 or 36 months in some situations.¹ During that time, you pay the full premium yourself. This includes your share, the portion your employer used to cover and an administrative fee.

Key facts about COBRA: ¹

Available if your employer has 20 or more employees.

Keeps the same plan you had through your employer.

May include dental and vision benefits, depending on your plan.

You pay 100% of the premium (plus an admin fee).

Coverage lasts 18 to 36 months, depending on your situation.

COBRA allows you to keep your current doctors. That can be a plus if you have ongoing health needs or chronic conditions. But the higher monthly cost may be hard to manage without employer help.

Don’t wait to continue your health insurance coverage if you’ve lost your job and can’t afford COBRA. Explore TriTerm Medical plans online today.

What is TriTerm Medical insurance?

TriTerm Medical insurance, underwritten by Golden Rule Insurance Company, is a type of temporary health insurance plan available in some states. It provides coverage for nearly three years (three consecutive 12-month terms minus 1 day in most states). This is longer than many short term health insurance plans, which usually last less than a year.

TriTerm Medical insurance can help pay for major medical costs like doctor visits, hospital stays and prescriptions. It may be a good option if you’re between jobs or waiting for other healthcare coverage to begin.

Key facts about TriTerm Medical insurance:

Coverage lasts up to nearly three years in most states.

You can apply anytime and may start coverage about five days after approval.

Preexisting limitations apply; some preexisting conditions may be covered after the first 12 months. Requires medical underwriting of health history; some health history may result in an applicant being ineligible for a policy.

Access to a nationwide network of doctors, hospitals and medical facilities.

Choose your deductible (amount you pay before your plan starts sharing costs) and coinsurance (percentage you pay after meeting your deductible).

TriTerm Medical insurance isn’t required to follow all the rules of the Affordable Care Act. That means it may not include every essential health benefit. And it may have lifetime and/or annual dollar limits on the health benefits.

Temporary coverage doesn’t have to mean limited benefits. Discover if TriTerm Medical plans can be a good fit for you and your loved ones.

How do COBRA and TriTerm Medical compare?

If you’re deciding between these two types of coverage, some of the main differences are cost, coverage length and flexibility.

Here’s a quick look:

Feature	COBRA	TriTerm Medical
Who’s it for	People who want to keep their employer plan	People between jobs or life stages
Coverage length	Up to 18 months	Nearly 3 years
Cost	Higher — you pay the full premium	Lower monthly cost for many
Enrollment	Within 60 days of losing coverage	Apply anytime
Flexibility	Same plan, limited changes	Choose from plan options
Covers preexisting conditions	Yes	Often limited or excluded for first 12 months

How to choose between the two

Choosing between COBRA and TriTerm Medical insurance depends on your health needs, budget and how long you’ll need to be covered by a plan.

COBRA may be a good choice if you:

Have ongoing medical care or high prescription costs

Want to keep your current doctors and plan

Only need coverage for a few months

TriTerm Medical may be a good fit if you:

Are generally healthy and want lower monthly costs

Expect a longer gap before your next coverage

Need flexible, temporary healthcare coverage until another medical insurance plan starts

Change can be stressful enough. Don’t let your health insurance add to it. Going over your options allows you to choose the one suited for you and your family.

Still have questions? Call 1-844-211-7730 to speak to a licensed insurance agent or browse plans online.

TriTerm short term limited duration coverage is not required to comply with certain federal market requirements for health insurance, principally those contained in the Affordable Care Act. Be sure to check your policy carefully to make sure you are aware of any exclusions or limitations regarding coverage of preexisting conditions or health benefits (such as hospitalization, emergency services, maternity care, preventive care, prescription drugs, and mental health and substance use disorder services). Your policy might also have lifetime and/or annual dollar limits on health benefits. If this coverage expires or you lose eligibility for this coverage, you might have to wait until an open enrollment period to get other health insurance coverage.

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