Question about COBRA coverage

[Schfifty Five]

I lost my job back in late Jan. and am now finally getting around to figuring out health insurance stuff. I want to elect for continued coverage through COBRA, but noticed on the election form that I have to pay for all premiums since the date that I lost coverage. COBRA coverage began Feb 1st for me.

Just curious but why am I required to pay for Feb and most of March when I didn't even have coverage then?

Thanks.

 

[darkxshade]

Because only the real american heroes get this coverage!

 

[spidey07]

Umm, you MUST notify them you want COBRA within 30 days of being laid off. You may be shit out of luck and not able to get it.

 

[Schfifty Five]

Originally posted by: spidey07
Umm, you MUST notify them you want COBRA within 30 days of being laid off. You may be shit out of luck and not able to get it.

Nah, I had 60 days, April 1st is my last day.

 

[Newbian]

Don't forget... they auto disqualify anyone with the name JOE.

 

[shopbruin]

Originally posted by: Schfifty Five
I lost my job back in late Jan. and am now finally getting around to figuring out health insurance stuff. I want to elect for continued coverage through COBRA, but noticed on the election form that I have to pay for all premiums since the date that I lost coverage. COBRA coverage began Feb 1st for me.

Just curious but why am I required to pay for Feb and most of March when I didn't even have coverage then?

Thanks.

COBRA starts on the date you would have lost coverage.

Your premium through your employer was probably paid through the end of Jan, so your first date of COBRA coverage begins Feb 1.

If you need more clarification, you should speak to the administrator of your COBRA plan.

 

[FelixDeCat]

Originally posted by: freesia39

Originally posted by: Schfifty Five
I lost my job back in late Jan. and am now finally getting around to figuring out health insurance stuff. I want to elect for continued coverage through COBRA, but noticed on the election form that I have to pay for all premiums since the date that I lost coverage. COBRA coverage began Feb 1st for me.

Just curious but why am I required to pay for Feb and most of March when I didn't even have coverage then?

Thanks.

COBRA starts on the date you would have lost coverage.

Your premium through your employer was probably paid through the end of Jan, so your first date of COBRA coverage begins Feb 1.

If you need more clarification, you should speak to the administrator of your COBRA plan.

Correct. My first check to ADP (who administered the plan and remitted funds back to UHC) was for about $1100. I kind of felt like I was being ripped off, but when I thought about it, those $550 per month payments for one person starting on the first of the month after leaving your job was actually due them on March 1st (02-01 until 03-31).

 

[RaistlinZ]

You're the first person I've ever heard of who can actually afford COBRA coverage.

 

[CRXican]

I'm using it right now. Have been since August 08.

 

[Hyperlite]

Originally posted by: CRXican
I'm using it right now. Have been since August 08.

You are SO constructive!

 

[SupaDupaPan]

Originally posted by: RaistlinZ
You're the first person I've ever heard of who can actually afford COBRA coverage.

It's only 2% above what the employer pays for it (gross amount).

 

[SunnyD]

Originally posted by: Newbian
Don't forget... they auto disqualify anyone with the name JOE.

And knowing is half the battle!

 

[HardcoreRobot]

you technically DID have coverage, if you sign up now

 

[SacrosanctFiend]

Originally posted by: spidey07
Umm, you MUST notify them you want COBRA within 30 days of being laid off. You may be shit out of luck and not able to get it.

The ARRA gives people 60 days after being laid off, and he actually has 60 days from being notified of the new subsidy.

Originally posted by: SupaDupaPan

Originally posted by: RaistlinZ
You're the first person I've ever heard of who can actually afford COBRA coverage.

It's only 2% above what the employer pays for it (gross amount).

COBRA is now subsidized by 65%. Er pays 65%, Ee pays 35%, Gov. gives Er payroll tax credit.

Text

 

[Schfifty Five]

Originally posted by: RaistlinZ
You're the first person I've ever heard of who can actually afford COBRA coverage.

With the governemtn premium reduction plan, it's not that bad. Should come out to about $120/month after the reduction. $120 for a pretty damn good plan is worth it imo.

 

[Schfifty Five]

Originally posted by: freesia39

Originally posted by: Schfifty Five
I lost my job back in late Jan. and am now finally getting around to figuring out health insurance stuff. I want to elect for continued coverage through COBRA, but noticed on the election form that I have to pay for all premiums since the date that I lost coverage. COBRA coverage began Feb 1st for me.

Just curious but why am I required to pay for Feb and most of March when I didn't even have coverage then?

Thanks.

COBRA starts on the date you would have lost coverage.

Your premium through your employer was probably paid through the end of Jan, so your first date of COBRA coverage begins Feb 1.

If you need more clarification, you should speak to the administrator of your COBRA plan.

Yeah I realize the coverage was available to me from Feb. 1st. But what I don't quite understand fully is if I decide to have coverage now (March 26th), why am I required to pay for all of Feb and most of Mar. if I didn't use it?