question: changing jobs and must COBRA health ins for a month.

[peacebird]

Currently I pay about $100 a month for my part of insurance, but our HR person today nearly gave me a heart attack when she said it would cost me $900 to COBRA for a month?!? I *know* the company is NOT paying $800 a month over my payment for the incredibly crappy "coverage" we get. Is this a reasonable cost for COBRA? Oh, & better still - both my hubby & I are moving to new jobs and so COBRA would be $1800 for the month before we can get coverage with our new companies...!

This just does NOT sound right?

[valerief]

1. Bootstraps. Personal responsibility. Taxed enough already. Freedom from govt.

:sarcasm:


I truly sympathize. This doesn't happen in civilized countries.

[gmoney]

2. COBRA is hugely expensive

those numbers don't surprise me much... but maybe you're getting better coverage under COBRA?

[3waygeek]

6. COBRA coverage is supposed to be identical to that

you had while you were with the company. In my experience, that's always been the case -- you don't get a new ID card, and the coverage doesn't change in any visible way.

Also in my experience, the cost is usually greater than the sum of the employer & employee contributions. I suspect that some of that money is kicked back to the employer.

[bbinacan]

3. I think you can

initiate COBRA retroactively only if a condition presents a need. I know it at least used to be that way.

[peacebird]

5. interesting thought... will look into that, thank you!

[Curmudgeoness]

9. I hadn't thought of this, but it is a great idea. You do have time

to decide (I posted a link where you can find out that timeframe). The only possible problem could be trouble getting insured because of a lapse in coverage, but if your new employer will be covering you, I don't think that will be an issue. Make sure though.

[demosincebirth]

4. So sorry. If you husband was covered by your ins, he should be covered

by your cobra. you shouldn't have to pay 1800 bucks a mo.

[peacebird]

8. we each had own policy (his plan would not cover me since i was working)

I am looking at getting a month of individual medical insurance for each of us, seeing if just catastrophic care coverage would be cheaper....

[Curmudgeoness]

7. I deal with COBRA where I work, and your cost for insurance

is supposed to be the full cost plus the company can charge an additional 2% above that.

Here is a link, and you can find your answer in question 15.

http://www.dol.gov/ebsa/faqs/faq_consumer_cobra.HTML

[peacebird]

10. THANK YOU! :-) This is great information.

:hug:

[WinkyDink]

11. I am paying into my former school district (I'm retired) at $570/month.

[rox63]

12. I had to do that once when I changed jobs

It was really expensive. It sucks, but I wouldn't be suprised if those numbers were correct.

[Scuba]

13. If we had Medicare for All, you wouldn't have this problem...

...my sympathies. You might want to consider a high-deductible plan just to protect you for the month. Could/should be less than $900.

[Roselma]

14. My husband and I are paying COBRA of $1180/month with

a big deductible and an 80/20 coinsurance. It can be really difficult to pay that, but we now realize just how much contribution my husband's former employer was chipping in all these years. We'd only been paying $420/month for our share before my husband was laid off.

[tritsofme]

15. That sounds about right unfortunately.

The entire cost of the premium probably is $900, you only pay a portion when working, and the company pays the rest. When you go on COBRA you must pay the entire premium.

That's the main reason for the subsidy regime in the ACA, as premiums for good (or even bad) coverage are so ridiculously expensive when not subsidized by your company or the government.