I was let go while on medical leave and was given the option of goin with Cobra Insurance.From lookin at the rates online,it seems like alotta cash from what I've seen so far.
Cobra Insurance Rates-Ripoff?
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JHZR2
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Cobra is $$$. I used it for a little while after graduating college while getting my masters. But iirc, insuring yourself is much more $$$.
I believe it's so expensive because you're paying the entire cost yourself. When you were an employee, your employer was paying a big part of the premium on your behalf.
I'm no insurance expert, but that's my understanding of how it works.
I'm no insurance expert, but that's my understanding of how it works.
Originally Posted By: stephen9666
I believe it's so expensive because you're paying the entire cost yourself. When you were an employee, your employer was paying a big part of the premium on your behalf.
I'm no insurance expert, but that's my understanding of how it works.
This, plus I believe the employer is allowed to add a small percentage as an administrative fee. I seem to recall that when I was on COBRA, it cost me my portion, my employer's portion plus another 10% to keep the coverage. And it was a bargain compared to Illinois' "high-risk" pool which I fell into once COBRA ran out.
I believe it's so expensive because you're paying the entire cost yourself. When you were an employee, your employer was paying a big part of the premium on your behalf.
I'm no insurance expert, but that's my understanding of how it works.
This, plus I believe the employer is allowed to add a small percentage as an administrative fee. I seem to recall that when I was on COBRA, it cost me my portion, my employer's portion plus another 10% to keep the coverage. And it was a bargain compared to Illinois' "high-risk" pool which I fell into once COBRA ran out.
COBRA is mainly to allow you to get insurance at a group rate and not be rejected because of a pre-existing condition.
I would guess in the $600 range for a single person. In NY.
I would guess in the $600 range for a single person. In NY.
Cobra is more than individual insurance. It was $150 more a month for me. I kept mine for 1 month, than got something else. I could not afford the lapse in coverage because I was riding a motorcycle, and one hit would wipe me out financially.
Originally Posted By: Donald
COBRA is mainly to allow you to get insurance at a group rate and not be rejected because of a pre-existing condition.
Bingo. It is indeed quite expensive, but you will be getting good coverage.
COBRA is mainly to allow you to get insurance at a group rate and not be rejected because of a pre-existing condition.
Bingo. It is indeed quite expensive, but you will be getting good coverage.
Originally Posted By: dparm
Originally Posted By: Donald
COBRA is mainly to allow you to get insurance at a group rate and not be rejected because of a pre-existing condition.
Bingo. It is indeed quite expensive, but you will be getting good coverage.
That's not the case.
You'll keep whatever coverage you had before, and be paying the full amount for the coverage. If the coverage sucked while you were employed, it will suck just the same while unemployed.
It will give a fresh appreciation for how much you cost as an employee -- much more than your take-home pay.
Originally Posted By: Donald
COBRA is mainly to allow you to get insurance at a group rate and not be rejected because of a pre-existing condition.
Bingo. It is indeed quite expensive, but you will be getting good coverage.
That's not the case.
You'll keep whatever coverage you had before, and be paying the full amount for the coverage. If the coverage sucked while you were employed, it will suck just the same while unemployed.
It will give a fresh appreciation for how much you cost as an employee -- much more than your take-home pay.
Time to crunch the numbers and see if its better to just become unemployed and move to a welfare state. There are reasons marriages are down and the birth rates are the same. Its not morals its all financial. It costs more to be married than to live with your girlfriend and her pretend shes a single mom so at least children have coverage
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Originally Posted By: getnpsi
Time to crunch the numbers and see if its better to just become unemployed and move to a welfare state. There are reasons marriages are down and the birth rates are the same. Its not morals its all financial. It costs more to be married than to live with your girlfriend and her pretend shes a single mom so at least children have coverage
Haha, that's how it is here in MN. Everything is free, unless of course you actually work for a living and pay taxes.
Time to crunch the numbers and see if its better to just become unemployed and move to a welfare state. There are reasons marriages are down and the birth rates are the same. Its not morals its all financial. It costs more to be married than to live with your girlfriend and her pretend shes a single mom so at least children have coverage
Haha, that's how it is here in MN. Everything is free, unless of course you actually work for a living and pay taxes.
I believe that you have 60 days to accept COBRA coverage. When I was out of work a few years back, I completed and signed the COBRA paperwork, wrote the first check and put it in the addressed and stamped envelope. I told my better half that if anything happened and I needed the coverage, MAIL THE LETTER. The coverage would have applied and covered me if it was received within the 60 day acceptance window. I didn't need the coverage and found employment within a few weeks.
If you are on medical leave you probably can't afford to be without COBRA. It's expensive, or seems so since your employer was paying a good percentage of it. But now you have a pre-existing condition.
Medicaid may be an option? Depends on your income.
Check with your state; some states have their own programs while others have none. What's true in one state isn't necessarily true in another.
Again, check all your options.
Medicaid may be an option? Depends on your income.
Check with your state; some states have their own programs while others have none. What's true in one state isn't necessarily true in another.
Again, check all your options.
Originally Posted By: djb
Originally Posted By: dparm
Originally Posted By: Donald
COBRA is mainly to allow you to get insurance at a group rate and not be rejected because of a pre-existing condition.
Bingo. It is indeed quite expensive, but you will be getting good coverage.
That's not the case.
You'll keep whatever coverage you had before, and be paying the full amount for the coverage. If the coverage sucked while you were employed, it will suck just the same while unemployed.
It will give a fresh appreciation for how much you cost as an employee -- much more than your take-home pay.
My point is valid. The point that DPARM was trying to make that it will most likely be better coverage than you could get with an individual policy. But true, if you had a [censored] policy with your employer, that part does not change under COBRA.
Originally Posted By: dparm
Originally Posted By: Donald
COBRA is mainly to allow you to get insurance at a group rate and not be rejected because of a pre-existing condition.
Bingo. It is indeed quite expensive, but you will be getting good coverage.
That's not the case.
You'll keep whatever coverage you had before, and be paying the full amount for the coverage. If the coverage sucked while you were employed, it will suck just the same while unemployed.
It will give a fresh appreciation for how much you cost as an employee -- much more than your take-home pay.
My point is valid. The point that DPARM was trying to make that it will most likely be better coverage than you could get with an individual policy. But true, if you had a [censored] policy with your employer, that part does not change under COBRA.
Illegal folks get free health care... why shouldn't a person paying taxes all their adult life also get free health care ?
Originally Posted By: LT4 Vette
Illegal folks get free health care... why shouldn't a person paying taxes all their adult life also get free health care ?
An uncomfortable truth.
Illegal folks get free health care... why shouldn't a person paying taxes all their adult life also get free health care ?
An uncomfortable truth.
With the Affordable Healthcare Act we now have free healthcare for all the moochers that don't put a penny into the pot. I'm soooo proud of our government giving all the illegals the free care and medical attention they deserve and are entitled to.
Originally Posted By: LT4 Vette
With the Affordable Healthcare Act we now have free healthcare for all the moochers that don't put a penny into the pot. I'm soooo proud of our government giving all the illegals the free care and medical attention they deserve and are entitled to.
That does not fully kick in for at least another year.
With the Affordable Healthcare Act we now have free healthcare for all the moochers that don't put a penny into the pot. I'm soooo proud of our government giving all the illegals the free care and medical attention they deserve and are entitled to.
That does not fully kick in for at least another year.
Originally Posted By: LT4 Vette
With the Affordable Healthcare Act we now have free healthcare for all the moochers that don't put a penny into the pot. I'm soooo proud of our government giving all the illegals the free care and medical attention they deserve and are entitled to.
Hospitals ALWAYS provided free care to those who could not pay (poor, homeless, drug addicts, non-citizens etc). However the level care is drastically different for folks with insurance and those without. Minimal work is done and they are shuffled out quick.
A mandate of a hospital to exist typically is they must accept anyone.
Free healthcare always existed, nothing new.
With the Affordable Healthcare Act we now have free healthcare for all the moochers that don't put a penny into the pot. I'm soooo proud of our government giving all the illegals the free care and medical attention they deserve and are entitled to.
Hospitals ALWAYS provided free care to those who could not pay (poor, homeless, drug addicts, non-citizens etc). However the level care is drastically different for folks with insurance and those without. Minimal work is done and they are shuffled out quick.
A mandate of a hospital to exist typically is they must accept anyone.
Free healthcare always existed, nothing new.
I had health insurance through an employer. I got fired from the job (it was planned, they did it with everyone in that position at exactly 6 months). Didn't realize this, but the health insurance kept going for 6 months!
Found that out when I got a different job and there was an overlap.
Found that out when I got a different job and there was an overlap.
C'mon guys, I'm sure the OP wouldn't appreciate a bunch of political discussion getting the tread locked. He or she is trying to get good feedback on the topic.
COBRA is expensive because you are paying the entire insurance bill. I was on COBRA for about a year because a I worked for a transitional employer for about a year who did not offer insurance. Instead, he offered to recompense employees a portion of the cost of their insurance under COBRA. Better than nothing. Our cost was about $1,400/month to continue our BCBS plan from my previous employer. Our out of pocket expense, even after the stipens, was much more than previous, so we just had to suck it up and do it.
COBRA is expensive because you are paying the entire insurance bill. I was on COBRA for about a year because a I worked for a transitional employer for about a year who did not offer insurance. Instead, he offered to recompense employees a portion of the cost of their insurance under COBRA. Better than nothing. Our cost was about $1,400/month to continue our BCBS plan from my previous employer. Our out of pocket expense, even after the stipens, was much more than previous, so we just had to suck it up and do it.
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