When you lose a job, by choice or from bad luck, COBRA is a great safety net. It helps you keep your family health insurance coverage until either you join another group policy or get an individual health insurance policy.

If your COBRA coverage runs out (typically after 18 months, but maybe longer in some cases) and you're not back at a job that offers group health insurance coverage, you might be considering a private health insurance plan.

Perhaps you're on COBRA after leaving your job to open your own business. In this case you'll definitely want to switch to private health insurance before coverage under COBRA runs out.

Be sure you take into consideration any pre-existing conditions you or any of your family members may have. Federal law protects you from being denied coverage due to a pre-existing condition, but only when it comes to group health insurance plans. It doesn't apply to private insurance.

If pre-existing conditions are not a concern for you or your family, then start shopping around for individual health insurance before your COBRA expires. You want to make sure you don't have any gaps in coverage.

Look for a private health insurance plan that offers the same level of coverage you are currently receiving. Assess your current coverage:

• What plan type is it? (HMO? PPO?)
• Are there any deductibles?
• What are the co-pays?
• Is there any co-insurance and if so, how much?
• Does it include prescription coverage?
• What about vision and dental?

Once you take a moment to become familiar with the plan you'll be replacing, it's time to shop and compare policies. It's not wise to simply settle for the first policy you find that is similar in coverage. Premiums can vary widely from one company to the next (yes, even for similar coverage).

So head over to a large, trusted, unbiased site like lowestpolicy.com and request several quotes from the best in the business.

When it comes to COBRA family health insurance, you want to be protected! Make sure you look beyond the monthly premium. Pay attention to the level of coverage, out-pocket-costs, and range of services included.