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Leaving my current company for another.....

T

Triforceofcourage

Platinum Member
My new company won't let me on their plan for three months so that leaves me paying the bill. My current company's plan using COBRA will cost me $450/month to stay on it for 3 months. Should I stay on it for those 3 months or go out on my own and get insurance.

I am a relatively healthy 25 year old but am paranoid and like to be covered so going without insurance is not an option.

Thanks.
 
Originally posted by: Triforceofcourage
My new company won't let me on their plan for three months so that leaves me paying the bill. My current company's plan using COBRA will cost me $450/month to stay on it for 3 months. Should I stay on it for those 3 months or go out on my own and get insurance.

I am a relatively healthy 25 year old but am paranoid and like to be covered so going without insurance is not an option.

Thanks.
Click to expand...

$450 for the entire 3 months? You will not find a cheaper option out there. Stay on it for those 3 months, you do not want a lapse in insurance coverage.
 
Originally posted by: jhayx7
Originally posted by: Triforceofcourage
My new company won't let me on their plan for three months so that leaves me paying the bill. My current company's plan using COBRA will cost me $450/month to stay on it for 3 months. Should I stay on it for those 3 months or go out on my own and get insurance.

I am a relatively healthy 25 year old but am paranoid and like to be covered so going without insurance is not an option.

Thanks.
Click to expand...

$450 for the entire 3 months? You will not find a cheaper option out there. Stay on it for those 3 months, you do not want a lapse in insurance coverage.
Click to expand...

No, its $450per month so 1,350 for three months
 
Originally posted by: jhayx7
Originally posted by: Triforceofcourage
My new company won't let me on their plan for three months so that leaves me paying the bill. My current company's plan using COBRA will cost me $450/month to stay on it for 3 months. Should I stay on it for those 3 months or go out on my own and get insurance.

I am a relatively healthy 25 year old but am paranoid and like to be covered so going without insurance is not an option.

Thanks.
Click to expand...

$450 for the entire 3 months? You will not find a cheaper option out there. Stay on it for those 3 months, you do not want a lapse in insurance coverage.
Click to expand...

My new company won't let me on their plan for three months so that leaves me paying the bill. My current company's plan using COBRA will cost me $450/month to stay on it for 3 months. Should I stay on it for those 3 months or go out on my own and get insurance.
Click to expand...


im pretty sure that wa 450 a month
 
Can you customize the $450/month plan? Maybe they'll have an option for a higher deductible to get the cost down.
 
I'd go without for three months. Unless you rely on your health insurance for medication or on-going treatments for an existing condition.
 
Do NOT have a lapse in your group medical coverage if you have any medical condition that you currently maintain. This includes anything you currently take medication for, see a specialist for, etc. Pre-existing conditions are waived if moving from one group plan to another, otherwise you'll probably fall into an exclusionary period where they wont cover it.
 
Keep the COBRA coverage for three months. Otherwise your new plan will put you on pre-existing limitations, and if any problems crop up before that coverage becomes effective, you'll have no coverage for those problems during the first year of coverage.


 
You can simply go get your own insurance and customize the coverage. It may or may not cost less, but worth calling around. 2 years ago I remember being able to get a very basic insurance plan for $250-300/month this way, as more of assurance against anything major happening.
 
Unless you have pre-existing conditions like others have mentioned, what's wrong with short-term insurance through a 3rd party?

When my wife switched jobs, she picked up a 3 month policy for around $300-$400 total. Granted, it was basic coverage with a large deductible, but was for emergencies only.
 
There are temporary insurance plans that are pretty cheap, definitely a lot less than 450 a month. However they are only useful for emergencies, so if you are worried about other things, I would just look for a high deductible plan to hold you over. I feel like for someone your age $450 is a bit much.
 
Originally posted by: sixone
Keep the COBRA coverage for three months. Otherwise your new plan will put you on pre-existing limitations, and if any problems crop up before that coverage becomes effective, you'll have no coverage for those problems during the first year of coverage.
Click to expand...


Don't some insurance companies provide for a buffer zone? For example, if you were to pick up another insurance carrier within a certain amount of time (from dropping previous carrier) then no pre-existing limitations woud apply???

 
450/m for single coverage or famly?

450 for single is quite expensive.

BlueCross Blueshield will be cheaper but the problem is the deductible will eat you in 3 months time. If you get sick or go to the ER you pay that cost and won't have it for the rest of the year so essentially you pay per month and per visit. You will however come out a little cheaper as the insurance company has a negotiated rate for service but at 150-200 per month for 3 months that savings will be most likey all gone.

Best bet is to either go with a plan with no deductible at all or just wing it with no coverage.
 
Originally posted by: jlbenedict
Originally posted by: sixone
Keep the COBRA coverage for three months. Otherwise your new plan will put you on pre-existing limitations, and if any problems crop up before that coverage becomes effective, you'll have no coverage for those problems during the first year of coverage.
Click to expand...

Don't some insurance companies provide for a buffer zone? For example, if you were to pick up another insurance carrier within a certain amount of time (from dropping previous carrier) then no pre-existing limitations woud apply???
Click to expand...

IIRC, that grace period is 63 days. The OP should check with his HR person, to be sure.

 
Originally posted by: krunchykrome
I know you're an accountant; I'm just curious, what kind of new job are you getting and what are you leaving?
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Just leaving because it's a relatively small company and I do not really have any growth opportunities here. I work with a great group of people though and I will miss them.

I will still be an accountant at the new company, they just pay a little more and give me more advancement opportunities.
 
Originally posted by: Triforceofcourage
Originally posted by: krunchykrome
I know you're an accountant; I'm just curious, what kind of new job are you getting and what are you leaving?
Click to expand...

Just leaving because it's a relatively small company and I do not really have any growth opportunities here. I work with a great group of people though and I will miss them.

I will still be an accountant at the new company, they just pay a little more and give me more advancement opportunities.
Click to expand...

Gotcha. Good luck!
 
Originally posted by: Triforceofcourage
Originally posted by: krunchykrome
I know you're an accountant; I'm just curious, what kind of new job are you getting and what are you leaving?
Click to expand...

Just leaving because it's a relatively small company and I do not really have any growth opportunities here. I work with a great group of people though and I will miss them.

I will still be an accountant at the new company, they just pay a little more and give me more advancement opportunities.
Click to expand...

Also, does the new job carry the same insurance as your current employer? If so, some of them provide a pre-existing condition waiver.
 
Originally posted by: jhayx7
Originally posted by: Triforceofcourage
Originally posted by: krunchykrome
I know you're an accountant; I'm just curious, what kind of new job are you getting and what are you leaving?
Click to expand...

Just leaving because it's a relatively small company and I do not really have any growth opportunities here. I work with a great group of people though and I will miss them.

I will still be an accountant at the new company, they just pay a little more and give me more advancement opportunities.
Click to expand...

Also, does the new job carry the same insurance as your current employer? If so, some of them provide a pre-existing condition waiver.
Click to expand...

I'm not sure if the plans are the same but I know they both use Aetna.
 
Originally posted by: Triforceofcourage
Originally posted by: jhayx7
Originally posted by: Triforceofcourage
My new company won't let me on their plan for three months so that leaves me paying the bill. My current company's plan using COBRA will cost me $450/month to stay on it for 3 months. Should I stay on it for those 3 months or go out on my own and get insurance.

I am a relatively healthy 25 year old but am paranoid and like to be covered so going without insurance is not an option.

Thanks.
Click to expand...

$450 for the entire 3 months? You will not find a cheaper option out there. Stay on it for those 3 months, you do not want a lapse in insurance coverage.
Click to expand...

No, its $450per month so 1,350 for three months
Click to expand...

man I am glad that I live in Canada...I would pay $50/mth if I switched jobs until I was covered

 
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