COBRA Coverage

"Full of the sound of the Gran Fury, signifying nothing." (granfury) 01/27/2020 at 21:19 • Filed to: None

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I finally got the information from my former employer regarding COBRA coverage. $765.67 per month, a tiny bit less if I don’t want dental or vision. Ouch. A snakebite may be a little more comfortable. The last time I signed up for COBRA it was less than $250, and that came in very handy when I had a nasty bicycle crash. I don’t think I can afford it this time around...

CarsofFortLangley - Oppo Forever > Full of the sound of the Gran Fury, signifying nothing. 01/27/2020 at 21:31

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What is cobra specifically? Just health insurance or what?

BeaterGT > Full of the sound of the Gran Fury, signifying nothing. 01/27/2020 at 21:33

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$490 here, so only a bit cheaper than some anti- venom . So much for those HSA savings! 

smobgirl > Full of the sound of the Gran Fury, signifying nothing. 01/27/2020 at 21:41

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Holy hell. Mine is $430.

VincentMalamute-Kim > CarsofFortLangley - Oppo Forever 01/27/2020 at 21:46

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It is. It’s exact same old health insurance you were getting from your old employer. Now that you quit, you can still continue on your old plan but now your employer doesn’t have to pay, you have to pay the entire premium. For like 18 months (?) after you quit .

Protects you in between jobs.  It can be a hassle to get new coverage if you become uncovered for any length of time. C something OmniBus Reconciliation Act.

facw > CarsofFortLangley - Oppo Forever 01/27/2020 at 22:15

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Consolidated Omnibus Budget Reconciliation Act: https://www.dol.gov/general/topic/health-plans/cobra

Lets you stay on your employers’ heath plan for a period of time so you don’t immediately lose your coverage if you stop working for any reason. You have to pay the full premium though, the employer doesn’t have to keep subsidizing part of your coverage.  

facw > Full of the sound of the Gran Fury, signifying nothing. 01/27/2020 at 22:16

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Ouch, I’d check what Obamacare plans are going for. 

Deal Killer - Powered by Focus > facw 01/27/2020 at 23:07

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Most likely too late, as open enrollment has expired.

facw > Deal Killer - Powered by Focus 01/27/2020 at 23:36

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Yeah, but he wouldn’t need COBRA if he didn’t have a Q ualifying Life Event, so he doesn’t need to wait for open enrollment.

GLiddy > Full of the sound of the Gran Fury, signifying nothing. 01/27/2020 at 23:36

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I don’t even know if it still exists anymore but during one of my employment gaps, I signed up for a high deductible short term plan. I was relatively healthy (and young) and so was my wife. I put my kids on the state health plan. COBRA was ridiculously expensive and would have eaten up my whole unemployment insurance benefit .

I think the main reason to secure a short term plan is to avoid insurance gaps and the preexisting illness problem they might cause. This was way back in 2003, so take it for what its worth since the law has changed . If you are healthy otherwise, it might be worth a look.

pip bip - choose Corrour > Full of the sound of the Gran Fury, signifying nothing. 01/28/2020 at 02:21

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you need socialism

Full of the sound of the Gran Fury, signifying nothing. > pip bip - choose Corrour 01/28/2020 at 03:02

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100% agree.

Just because I am temporarily out of work doesn’t mean I should be without affordable healthcare. Right now I am in excruciating pain from a fall a little over a week ago and would really like to see a doctor but that’s not financially possible at this time. I don’t know how long I was unconscious and worry about potentially life long effects. But this situation should just encourage me to get out there and get a job, right? Well, kind of  tough to do when I can’t see straight, wincing in pain, and have near constant headaches...

RPM esq. > CarsofFortLangley - Oppo Forever 01/28/2020 at 03:57

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Specifically, it’s the statute that provides the right to keep the same health insurance your last employer provided for a certain period between jobs, although of course you have to pay for it since it’s no longer a benefit provided by your employer. It’s desirable because in addition to avoiding a loss of coverage, often the group coverage offered to and by employers and thus available to former employees temporarily via COBRA is much better than they could get individually for the same price. Of course, the whole system is insane, but since that’s the system we have, it’s a helpful  protection.

Long_Voyager94 > facw 01/28/2020 at 07:51

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Last we checked, around $2500 a month for anything worth having.

facw > Long_Voyager94 01/28/2020 at 08:31

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For how many people . I was paying ~$400/month for a platinum level HMO last time I was on an ACA plan, but that was back in 2015, so I’m sure things have gotten pricier.

Long_Voyager94 > facw 01/28/2020 at 10:00

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That was for 4 of us.

Seems a severe issue when healthcare costs over 1/2 your yearly income to have something decent.