Definitions
Continuing Group Coverage
Conversion Plan

Conversion Plan

Definition:

A conversion policy is an individual health insurance policy that you may be able to get after losing group coverage. A health insurance issuer may allow you to "convert" to an individual policy once you have lost group coverage, but typically only after exhausting COBRA or State Continuation.

Application:

The benefits of a conversion policy are typically less than those of the group plan and the cost can be expensive.

Definition Categories

Want to learn more? Schedule a Consultation

Get started and schedule a no cost consultation with the Business Benefits Team to learn how your business can better manage your employee benefits.

Get Started