Method for providing insurance protection against the loss of group health insurance coverage in the event of a disability of a plan participant
OwnerMark J. Gabrielinventor
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Abstract
A method for providing insurance protection against the inability to pay for, and consequential loss of, group health insurance benefits if an individual employee who is an active participant in the employer's group health plan becomes disabled. The invention provides for a disability insurance policy, or alternatively a combination of a plurality of disability insurance policies, that will pay both the employer and participant's portions of health insurance premiums during the period of COBRA coverage, with the monthly benefit amount determined by determining the total premium due under COBRA guidelines for the participant's group health insurance.
Claims13
A method for the making of substitute continuing periodic payments of premiums for an employer-sponsored group health insurance policy under COBRA during a period in which the participant is disabled, comprising:
- determining the amount of total periodic premiums required to pay for continuing coverage of said employer-sponsored group health insurance policy if a participant becomes eligible under COBRA due to disability, taking into account elimination periods;
- purchasing with funds paid periodically by the employer or the participant, or a combination of both, one or a plurality of disability insurance policies that will provide continuing substitute payment of the health insurance premiums during the eligibility period of COBRA coverage;
- paying, upon the occurrence of a condition resulting in eligibility under the specifications of the disability insurance policy or policies, benefits from the disability insurance policy or policies to pay the total premiums for the eligible participant's COBRA coverage group health insurance.
Dependencies are inferred from the claim text.