Needs some advice on COBRA medical plans

Sukhoi

Elite Member
Dec 5, 1999
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I just put my two week notice into my job, and don't have any actual offer yet from a new place. So it looks like I will have a bit of time between jobs. Can I use COBRA to cover my medical during this time period? I don't understand COBRA very well...is it only available if I am fired or can I use it if I quit to avoid being relocated? Thanks!
 

Vette73

Lifer
Jul 5, 2000
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If you can get COBRA you have to pay the FULL bill, not what you see taken out of your check. So see if you can even afford it first.

Talk to someone in HR at your present company.
 

mugs

Lifer
Apr 29, 2003
48,920
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You don't get a COBRA medical plan, you are just allowed to stay on your employer's plan and pay the full cost of coverage.
 

mshan

Diamond Member
Nov 16, 2004
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Probably most important thing is to make sure there is no gap in your health insurance between old job and new (?)

 

Christobevii3

Senior member
Aug 29, 2004
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It is really expensive when I looked into it. I just got an emergency plan for 6 months for $90 a month. It only would help if i had a major injury.
 

SacrosanctFiend

Diamond Member
Oct 2, 2004
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First, make sure your employer is a covered employer, meaning it employs 20 or more people. Yes, you qualify for COBRA if you quit (as long as it wasn't related to gross misconduct), and you will be eligible for 18-36 months. Talk to your HR Dept. about specifics for your state. Your company should provide you with a notice of your eligibility upon your termination. And, yes, you will have to foot the entire bill.
 

Sukhoi

Elite Member
Dec 5, 1999
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Hmm, maybe COBRA isn't a good idea for me now that I think of it. Our health insurance is rather good, so it would probably be rather expensive.

Originally posted by: Christobevii3
It is really expensive when I looked into it. I just got an emergency plan for 6 months for $90 a month. It only would help if i had a major injury.

Where did you find a plan like that? It's really more of what I need. I have no on-going health issues, no periodic prescriptions, etc. I just need a plan that will cover me if I get beatdown on the street or something.
 

BornStar

Diamond Member
Oct 30, 2001
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How long will you be going without insurance? After talking with my employer we determined it was better for my wife and I to go without insurance for a week after we got married until my insurance kicked in for both of us. According to the information I received (I have in no way verified this so make sure you do before following in my possibly foolish footsteps), COBRA can be opted into up to 45 days after your coverage expires and is retro-active. The way we read that was if something bad happened in the week, we'd just opt in, and if not, we saved $300/person.
 

Christobevii3

Senior member
Aug 29, 2004
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I just went to state farm, it is a pretty high deductible, but you can work around with what they have since there are a lot of different levels. The regular insurance was only like $120 a month too.
 

HomerSapien

Golden Member
Jul 19, 2000
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My wife was on Cobra for 4 months after she graduated law school (and we got married) and Unicare (my insurance) couldnt get there head out of their ass to get her signed up in a reasonable amount of time. It was close to 450 per month.
 

JS80

Lifer
Oct 24, 2005
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If you're single it'll probably cost you ~$250 for HMO and ~$400 for PPO. If you're healthy it might not be worth it.
 

ElMonoDelMar

Golden Member
Apr 29, 2004
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Originally posted by: Christobevii3
It is really expensive when I looked into it. I just got an emergency plan for 6 months for $90 a month. It only would help if i had a major injury.

This.
 

EagleKeeper

Discussion Club Moderator<br>Elite Member
Staff member
Oct 30, 2000
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Many employers will pay 3/4 of a plan's cost.

Take your current payment and multiply by 4.

Realize that many insurance plans will start on the month follwing employment.
This should be taken into account when switching jobs if you are currently utilizing the insurance frequently
 

BoomerD

No Lifer
Feb 26, 2006
65,840
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Damn, those rates are CHEAP! When I got hurt in 2003, my union's medical plan worked like this:
The employer paid about $5/hour worked into the medical hours bank, then they drew out 110 hours per month from that fund to pay your insurance. So, that works out to about $550 per month. About a year after I got hurt, I got a notice that my benefits were about to expire, and if I wanted to continue with their COBRA plan, it would be $1100 per month for the first 3 months, then $1300 per month after that.
Granted, we had EXCELLENT medical, dental, prescription, and optical coverage, but Jeezus Fucking Chryst!

So far, the BEST I can find for my wife & I (both in our mid-50's) is about $650/month for a shitty plan with high-copays and high deductibles...for just medical coverage.

Enjoy your youth...old age gets EXPENSIVE!
 

alkemyst

No Lifer
Feb 13, 2001
83,769
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If you are young 9 times out of 10 you can save by getting a private policy from BCBS or the like. If you are old COBRA is still usually cheaper than finding your own plan and doesn't change your coverage / need to be accepted.
 

Vette73

Lifer
Jul 5, 2000
21,503
9
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Originally posted by: BoomerD
Damn, those rates are CHEAP! When I got hurt in 2003, my union's medical plan worked like this:
The employer paid about $5/hour worked into the medical hours bank, then they drew out 110 hours per month from that fund to pay your insurance. So, that works out to about $550 per month. About a year after I got hurt, I got a notice that my benefits were about to expire, and if I wanted to continue with their COBRA plan, it would be $1100 per month for the first 3 months, then $1300 per month after that.
Granted, we had EXCELLENT medical, dental, prescription, and optical coverage, but Jeezus Fucking Chryst!

So far, the BEST I can find for my wife & I (both in our mid-50's) is about $650/month for a shitty plan with high-copays and high deductibles...for just medical coverage.

Enjoy your youth...old age gets EXPENSIVE!


Thats why working for the Fed Gov is great. If the last 5 years of your work is with the Fed Gov before you retire you can take your health insurance into retirment.
 

Sukhoi

Elite Member
Dec 5, 1999
15,346
106
106
Originally posted by: BornStar
How long will you be going without insurance? After talking with my employer we determined it was better for my wife and I to go without insurance for a week after we got married until my insurance kicked in for both of us. According to the information I received (I have in no way verified this so make sure you do before following in my possibly foolish footsteps), COBRA can be opted into up to 45 days after your coverage expires and is retro-active. The way we read that was if something bad happened in the week, we'd just opt in, and if not, we saved $300/person.

I did not know COBRA can be opted into retroactive...that it interesting. Will definitely have to look into it. I do not know how long I would be without insurance as I do not have a job lined up. Optimally just a couple weeks, but could be longer.

I just went to state farm, it is a pretty high deductible, but you can work around with what they have since there are a lot of different levels. The regular insurance was only like $120 a month too.

I had no clue they did health insurance. My renters insurance is with them so I'll give my agent for that a call and see what he can do. BCBS too...that's my current coverage so it would be nice being able to go to the same doctor if I actually did have a big problem.
 

Christobevii3

Senior member
Aug 29, 2004
995
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State Farm is kind of the agent for another company, but yes you can go through them to get it setup but your bills will go to someone else and you won't get a discount for combining them through state farm.
 

manlymatt83

Lifer
Oct 14, 2005
10,051
44
91
Originally posted by: mshan
Probably most important thing is to make sure there is no gap in your health insurance between old job and new (?)

Unless your state doesn't have a pre-existing condition clause -- but still, don't push it.

Also, there is a 30 day grace period with cobra. IE: if you want to be covered for June, you shouldn't have to pay until June 30th.