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Changing jobs - health insurance and preexisting conditions
Posted on 2/5/12 at 10:42 am
Posted on 2/5/12 at 10:42 am
I recently changed jobs and they have a 90-day waiting period for their health plan. The wife and kids were on my health plan.
So, my options are:
(1) have no coverage for 90-days. Not gonna happen
(2) buy COBRA for $1200/month
(3) get a short term "catastrophe" plan for $300-500/month
My quesions is: will my new insurance plan count the short-term plan as a "creditable coverage", as discussed in the last section here, or am I better off just going with COBRA to be sure?
What has everyone else done in this situation?
So, my options are:
(1) have no coverage for 90-days. Not gonna happen
(2) buy COBRA for $1200/month
(3) get a short term "catastrophe" plan for $300-500/month
My quesions is: will my new insurance plan count the short-term plan as a "creditable coverage", as discussed in the last section here, or am I better off just going with COBRA to be sure?
What has everyone else done in this situation?
This post was edited on 2/5/12 at 10:43 am
3
Posted on 2/5/12 at 10:42 am to TigerWerm
COBRA
Posted on 2/5/12 at 1:17 pm to Cold Pizza
quote:
COBRA
I was in the same situation a while back and COBRA was my only option to bridge over for preexisting.
Posted on 2/5/12 at 1:59 pm to TigerWerm
Since this is a life changing event, can you switch over to your wife's health insurance plan for 90 days and then make the switch again to your new company's health insurance plan?
Posted on 2/5/12 at 2:54 pm to TigerWerm
Pursuant to HIPPA, if you've had health insurance for 12 months, with no lapse in coverage of 63 days or more, a new group health plan cannot invoke a pre-existing condition exclusion. Therefore, in your position, you only need to elect COBRA coverage for one month in order for you to not worry about pre-existing conditions.
Also, your former employer has 30 days to send out your COBRA notice. And, you get 60 days to elect COBRA coverage -- measured from the time you get your notice. Therefore, you may be in a position to just elect the one month coverage and already "pretty much" know if you need it for the second and third month, i.e. you have some sort of medical emergency.
Also, your former employer has 30 days to send out your COBRA notice. And, you get 60 days to elect COBRA coverage -- measured from the time you get your notice. Therefore, you may be in a position to just elect the one month coverage and already "pretty much" know if you need it for the second and third month, i.e. you have some sort of medical emergency.
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