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Message
Cobra insurance vs waiting
Posted on 8/13/17 at 6:38 pm
Posted on 8/13/17 at 6:38 pm
So I switched jobs recently and my previous employer ended the job on July 31 and my current employer does pick up insurance till September 1.
What are the pros and cons of not getting insurance vs Cobra and waiting the 90 days?
A few references I've been to a doctor once over the past 6 years. I rarely get sick minus a few days where I feel like I'm dying, I have great cholesterol and Blood pressure according to the RiteAid machine.
Not sure I want to pay what Cobra is asking (350 vs the 200 I was paying) for single coverage. Just scared something will actually happen while I'm not insured.
What are the pros and cons of not getting insurance vs Cobra and waiting the 90 days?
A few references I've been to a doctor once over the past 6 years. I rarely get sick minus a few days where I feel like I'm dying, I have great cholesterol and Blood pressure according to the RiteAid machine.
Not sure I want to pay what Cobra is asking (350 vs the 200 I was paying) for single coverage. Just scared something will actually happen while I'm not insured.
16
Posted on 8/13/17 at 6:39 pm to tduecen
I paid it for a few months then said frick it and dropped it until the new job picked up. Luckily nothing happened in that 3 months
Posted on 8/13/17 at 6:41 pm to Nado Jenkins83
Yeah I have essentially 61 days until my new job picks it up. So I have to stay healthy till then. I've even avoided doing a few jobs I could get hurt at and hired someone to do.
Posted on 8/13/17 at 6:41 pm to Nado Jenkins83
quote:
Luckily nothing happened in that 3 months
I was same place last summer, went 3 months w/o insurance. Hate to be a pessimist, I'm glad nothing happened in that 3 months. It was on mind.
Posted on 8/13/17 at 6:42 pm to tduecen
Can't you elect for Cobra retroactively?
Posted on 8/13/17 at 6:43 pm to tduecen
The peace of mind is worth 150 more dollars. In 6 days I went from healthy 35 year old to hospitalized for a bile duct obstruction, surgery and then pancreatitis and also found out I had cancer. Totally unrelated. 6 days I had 4 surgeries. In 90 days I had, I think 6 surgeries and 3 hospital admits. 185,000 in bills between September and December of last year. Also, accidents happen.
Posted on 8/13/17 at 6:44 pm to tduecen
If I recall aren't there some conditions that won't be covered by a new insurer unless you've had continual insurance for several years? I learned that pre obummercare though.
Posted on 8/13/17 at 6:46 pm to tduecen
If the difference is only $150 a month, then go COBRA for the peace of mind.
Weren't you teaching?
Weren't you teaching?
Posted on 8/13/17 at 6:46 pm to BeerMoney
Can you get insurance cheaper on the open market? Is it even possible to get three months worth of coverage that way? If so, might be worth looking into.
Posted on 8/13/17 at 6:48 pm to tduecen
Can you get a short-term major-medical-only policy to use in between jobs? That way if you get appendicitis or something, it's covered.
I did this years ago--I think it was something like $45/month for a 3 month policy through MetLife (probably more now). I'm not sure if this would meet the mandatory requirements of the ACA to avoid a tax penalty though.
I did this years ago--I think it was something like $45/month for a 3 month policy through MetLife (probably more now). I'm not sure if this would meet the mandatory requirements of the ACA to avoid a tax penalty though.
Posted on 8/13/17 at 6:50 pm to BeerMoney
Going through this now. Cobra is retroactive so if something was to occur, just have your paperwork ready and get someone to send it in. You have like 30 days from your loss of coverage to sign on with cobra and I think 60 or so days to pay it. Luckily I'm only going one month so I'm just gonna chance it and if some catastrophic happened to where I couldn't just self pay, then I would have a family member send in the paperwork. Cobra is insanely expensive and I can't justify paying for it for only one month. Shitty situation all around though. Just have to be a little more careful I guess
Posted on 8/13/17 at 6:51 pm to tduecen
I rolled the dice when I switched. Cobra wanted about $700 for a month. F that noise
Posted on 8/13/17 at 6:52 pm to tduecen
Cobra is fricking expensive
Posted on 8/13/17 at 6:56 pm to tduecen
Remember, it's called insurance for a reason. I believe you can only get individual plans on the open market during open enrollment.
Posted on 8/13/17 at 6:57 pm to Black n Gold
quote:
Can't you elect for Cobra retroactively?
Yes.
Posted on 8/13/17 at 7:03 pm to Breesus
350 vs 200? Pay it.
Mine was in excess of 2000 a month.
I didn't pay it.
Mine was in excess of 2000 a month.
I didn't pay it.
Posted on 8/13/17 at 7:07 pm to TigerRagAndrew
Yeah mine was gonna be over a thousand per month
I said frick it and chanced it for over a year
Luckily it all worked out
(Single, no kids; probably would have viewed things differently otherwise)
I said frick it and chanced it for over a year
Luckily it all worked out
(Single, no kids; probably would have viewed things differently otherwise)
This post was edited on 8/13/17 at 7:08 pm
Posted on 8/13/17 at 7:12 pm to Black n Gold
quote:
Can't you elect for Cobra retroactively?
Yup. If your new insurance is going to pickup before COBRA runs out you might as well not pay it. If something happens you have to make up all the premium but if it doesn't you save the money.
This post was edited on 8/13/17 at 7:14 pm
Posted on 8/13/17 at 7:12 pm to Breesus
quote:
Can't you elect for Cobra retroactively?
COBRA beneficiaries have 60 days to decide whether they want COBRA coverage. If you enroll in COBRA before the 60 days are up, your coverage is then retroactive, as long as you pay the retroactive premiums. This means that if you incur medical bills during your "election period," you can retroactively — and legally — elect COBRA and have those bills covered.
Posted on 8/13/17 at 7:14 pm to tduecen
Them kids ran you off baw?
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