Anyone enrolled in COBRA?

[BrokenVisage]

 

[shortylickens]

OK, I just went there and looked at plans. 4000 to 15000 deductible AND big copays at the office.
Fuck that, it wont help me. Hospital splits their costs among a bunch of contractors. Each individual charge is always under 4 grand but they add up quickly.

 

[shortylickens]

OK, spent 20 minutes on the phone with USAA. 112 a month, thousand dollar deductible. My choice of provider.
Damn, why the fuck didnt I do that three years ago?

 

[Gibson486]

112 a month? So, how much is your co-insurance?

 

[EagleKeeper]

'progressives' want this thing called 'government run healthcare' so that corporations will quit raping them in the ass. you know, like the rest of the civilized world.

but it's cool, 'sup africa?

also funny i don't think my employer was paying 600 a month for my HMO.

You and your employer were though.

 

[EagleKeeper]

OK, spent 20 minutes on the phone with USAA. 112 a month, thousand dollar deductible. My choice of provider.
Damn, why the fuck didnt I do that three years ago?

As stated before; look at what each line item is and pays along with the limits on # times per year.

 

[shortylickens]

112 a month? So, how much is your co-insurance?

No co-insurance or co-pay that I am aware of, just the deductible.
Still gotta shell out 150 for an office visit at my local doctor, but they couldnt give me full coverage cuz I havent had any in over 3 years. I need 6 months on this short-term plan before I can do that.

 

[yuchai]

100% false. The most they are allowed to charge you for COBRA is the total cost of the policy plus a small administrative fee. I believe the fee is capped at 3% of policy cost.

2% administrative load is the maximum to be exact.

 

[yuchai]

You guys crying foul on COBRA premiums, remember that your employer is covering all their employees and not all healthy 20 year olds as you all probably are. They cannot differentiate COBRA premiums based on age/gender. They can only distinguish based on plan and by coverage tier (i.e. single, family, etc).

Another thing to consider is that medical costs vary quite a bit depending on where you live. IF you live in a low cost area, again, those premiums may seem high to you because they may be the average for all employees in the country.

Anyway I would just echo what most already said in that you should really review the benefits carefully if you think you're getting a deal in the individual market. It is a well known fact that group coverage is much cheaper for the same benefits that you get, so it's just very unlikely (though not possible) that you're getting a deal.

One thing to consider - if you're young and healthy though, you might be over-insured under the plan design that was offered by the employer (if they don't offer cheaper plans that cover less costs). It probably makes sense to look at a High Deductible Health Plan that's HSA qualified. You get lower premiums, and you can opt to put money in to the tax advantaged HSA to fund for that high deductible in case something happens in the future.

 

[amdhunter]

Been a member since the 80's.

I never realized that the Cobra logo was a vagina. :hmm:

 

[BrokenVisage]

i never realized that the cobra logo was a vagina. :hmm:

it's a trap!

 

[JulesMaximus]

yup. the only reason I was able to get Cobra was because my former employer paid for it. It was something like $450 a month. I can't afford that while on unemployment. It was actually cheaper to get a single plan for myself independently. Granted, to get a plan that had matched benefits to my former employer was only slightly cheaper when getting a plan myself.

For my wife, son and me it was $1500/month. Who the fuck can afford that when you're between jobs? That's like my mortgage payment! D:

 

[TheNinja]

Destro?

 

[sactoking]

As mentioned, COBRA isn't always a deal and it also isn't always to be avoided. Premiums seem high because you're paying your portion + the employer's portion + a small load. For younger people, you're also being rated as part of a group. This means that your COBRA costs can be quite a bit higher for comparable individual plan costs.

However, COBRA does have one big advantage over an individual plan: no pre-existing exclusions. If you have a pre-existing condition on your group plan and convert to COBRA coverage it will be covered. If you have a pre-existing condition on your group plan and take an independent individual plan your condition will likely be surcharged or excluded. For someone with known, high expenses like a cancer patient the necessary treatments would likely be excluded. Also excluded would be any maternity care, so if you're female and are pregnant or may become pregnant COBRA is more comprehensive coverage than an individual plan.

 

[Corporate Thug]

just got my letter $295.95/mo. Sounds high but it is what it is.

 

[Newbian]

just got my letter $295.95/mo. Sounds high but it is what it is.

Only one thing to do... hire a agent named joe to get them to reduce your cost.

 

[BoomerD]

just got my letter $295.95/mo. Sounds high but it is what it is.

If it's GOOD coverage...that's a steal.

In 2004 when my union insurance ran out, I got the Cobra letter. $1100 for the first month...then $1400 per month after that.
Our medical, dental, and optical was paid at the rate of $5/hr, and it took 110 hours per month to maintain coverage...$550/month.
The union didn't pick up any of the cost of our coverage...it was 100% employee paid. (actually paid by the contractor, but the money came from negotiated raises each contract...Get $1/hr raise...$0.65 goes to H&W benefits, $0.35 to the check) Over the years, it's gone up every year by a little bit. (nowadays, about $7/hr)

I had the audacity to question why as a worker, my coverage cost $550/month, yet once I was no longer working, they wanted $1400..."That's just the way it is. Take it or leave it."

I left it.

Also, the company paid the benefits for every hour I worked...usually 2400-3000 hours per year, yet the MAXIMUM I could carry benefits past my last day of work was 9 months...all extra hours over that were "absorbed" by the plan...

 

[SSSnail]

I tell you what, send me the thee grands for the months that your new employer won't cover you, and I'll provide your healthcare coverage.

Sssnail offers you protection.

 

[Corporate Thug]

If it's GOOD coverage...that's a steal.

In 2004 when my union insurance ran out, I got the Cobra letter. $1100 for the first month...then $1400 per month after that.
Our medical, dental, and optical was paid at the rate of $5/hr, and it took 110 hours per month to maintain coverage...$550/month.
The union didn't pick up any of the cost of our coverage...it was 100% employee paid. (actually paid by the contractor, but the money came from negotiated raises each contract...Get $1/hr raise...$0.65 goes to H&W benefits, $0.35 to the check) Over the years, it's gone up every year by a little bit. (nowadays, about $7/hr)

I had the audacity to question why as a worker, my coverage cost $550/month, yet once I was no longer working, they wanted $1400..."That's just the way it is. Take it or leave it."

I left it.

Also, the company paid the benefits for every hour I worked...usually 2400-3000 hours per year, yet the MAXIMUM I could carry benefits past my last day of work was 9 months...all extra hours over that were "absorbed" by the plan...

That's just it...it's pretty average coverage. Standard 80/20 HMO w/ $2500 deductible for outpatient/ $100/night for inpatient.

 

[BrokenVisage]

You've got to censor television you fools! Now, follow my orders!

 

[BoomerD]

That's just it...it's pretty average coverage. Standard 80/20 HMO w/ $2500 deductible for outpatient/ $100/night for inpatient.

Shop around. If you can beat the price for the same coverage...do that instead...IF you don't have any kind of pre-existing conditions that might affect new coverage.