COBRA

[Stewie]

I'm changing jobs and need to continue health insurance coverage. I've heard a couple of things. The most intriguing is that COBRA is 90-days retroactive. That is, if nothing happens for 90 days no harm, no foul, no COBRA payment. If something does happen I can pay the COBRA retroactively and be golden.

Anyone have experience with this?

[loochy]

Dude, you don't wanna mess with this guy:
http://images3.wikia.nocookie.net/__cb20110324043608/villains/images/b/ba/Cobra_commander.jpg

NOW YOU KNOW...

...AND KNOWING IS HALF THE BATTLE!

http://www.shirtaday.com/pastShirts/20070402_gijoeBig.jpg

[God of Thunder]

COBRA has a lot of catches.....trust me, I know. Although, I have type 1 diabetes, so for me, it was probably a little different.

[loochy]

On a serious note, I can say all I ever hear about COBRA is how damn expensive it is.

[siberian khatru]

http://sylvesterstallone.com/site/wp-content/uploads/2011/05/cobra.jpg

[Stewie]

COBRA has a lot of catches.....trust me, I know. Although, I have type 1 diabetes, so for me, it was probably a little different.

COBRA is a flat rate, no matter your needs. I'm not sure how diabetes matters since it was already covered.

[Stewie]

On a serious note, I can say all I ever hear about COBRA is how damn expensive it is.

People that had their entire family on company insurance definitely pay big bucks for COBRA. I'm just an individual and it's not bad.

[saphojunkie]

Dirtbag... you just wasted that kid for nothing. Now I think it's time to waste you.

[Bugeater]

http://sylvesterstallone.com/site/wp-content/uploads/2011/05/cobra.jpg
http://members.chello.nl/k.wijker/homepage/1978/78_ttop_cobraii.jpg

[Ace Gunner]

child's play really
http://gifs.gifbin.com/062010/1275988880_baby-vs-cobra.gif

[rambleonthruthefog]

My wife lost her job and therefor the insurance for her and my 3 kids. My ins was way more for all 5 of us so we used the COBRA program to keep them insured at the same rate. Or at least very close to the same rate. I don't remember the price. We wound up extending it a couple of times before switching them all to mine. It was fair, and my experience was positive. Had to take all 3 kids to dr and ER. And our treatment was the same as it ever was. Hope that helps

[Stewie]

My wife lost her job and therefor the insurance for her and my 3 kids. My ins was way more for all 5 of us so we used the COBRA program to keep them insured at the same rate. Or at least very close to the same rate. I don't remember the price. We wound up extending it a couple of times before switching them all to mine. It was fair, and my experience was positive. Had to take all 3 kids to dr and ER. And our treatment was the same as it ever was. Hope that helps

Thanks for a sincere response because it helps. I didn't realize COBRA was a beacon for dumbassery from the previous posts here.

[jjjayb]

The good news is they cover leg injuries!

http://t0.gstatic.com/images?q=tbn:ANd9GcSzHqJy1eDoCzkayXNfJFoHyzgLCOTuJwoJ7eIzrrc1OE6B-vAhEw

[58-4ever]

Couple of things to consider here:

1) Your insurance is good through the end of the month.

2) If your company is less than 25 employees, you may have to go on state continuation.

3) COBRA is pretty damn expensive, but if you have a family, it is well worth it.

[Icon]

I'm currently using COBRA although my term expires soon. You will have to pay the full amount of the insurance which can be a real shock if the employer was paying a portion of the cost. The time length available for COBRA varies per circumstance. I don't recall if its 12 months or 18 months for job loss. For loss of insurance as a result of a divorce the term available is 36 months.

[58-4ever]

How long til the new job's insurance kicks in?

[58-4ever]

I'm currently using COBRA although my term expires soon. You will have to pay the full amount of the insurance which can be a real shock if the employer was paying a portion of the cost. The time length available for COBRA varies per circumstance. I don't recall if its 12 months or 18 months for job loss. For loss of insurance as a result of a divorce the term available is 36 months.

COBRA at my job is actually a bit more than we pay. If you can work it out with your current employer, maybe you can keep paying them the full amount.

[Icon]

Obamacare kicks in January 2014 so people who previously couldn't get insurance because of pre-existing conditions, i.e. diabetes, would be able to get coverage. I don't know what the cost will be. Open enrollment for Obamacare is October.

[Stewie]

Posts 14-16...Thanks! Not to ignore the previous good posts.

In my case COBRA isn't expensive for the short term. I have other long-term options that are cheaper. I've learned you can "strip down" policies that exclude maternity, chiropractic, etc.. It's amazing how much that lowers the price.

[Icon]

COBRA at my job is actually a bit more than we pay. If you can work it out with your current employer, maybe you can keep paying them the full amount.

I lost my insurance as a result of a divorce. I'm self-employed with a pre-existing condition that has prevented me from getting insurance on the open market. Fortunately Obamacare will be available about the time my COBRA expires.

[58-4ever]

Posts 14-16...Thanks! Not to ignore the previous good posts.

In my case COBRA isn't expensive for the short term. I have other long-term options that are cheaper. I've learned you can "strip down" policies that exclude maternity, chiropractic, etc.. It's amazing how much that lowers the price.

Yep, if you can live with a higher deductible and out of pocket maximum, there are all kinds of options that still have good co-pays and cover you "just in case". I'm an HR Director, so if you need specific advice, feel free to PM me.

[Stewie]

Yep, if you can live with a higher deductible and out of pocket maximum, there are all kinds of options that still have good co-pays and cover you "just in case". I'm an HR Director, so if you need specific advice, feel free to PM me.

Tried. You have PMs locked out.

[Pepe Silvia]

I thought this thread was about the Sylvester Stallone movie.

[Rasputin]

http://i1130.photobucket.com/albums/m529/xxxsulaxxx/angry-cobra-cat2-by-shoutitallloud.gif (http://media.photobucket.com/user/xxxsulaxxx/media/angry-cobra-cat2-by-shoutitallloud.gif.html)

[CoMoChief]

Cobra is fucking expensive.

I wouldn't get it unless you "know" you're going to need health insurance.

[Valiant]

Cobra is expensive as fuck.. Try blue cross and blue shield.. Explain what you are looking for..

[Mojo Jojo]

I've changed jobs a couple of times...explored COBRA...passed both times it was so expensive.

['Hamas' Jenkins]

COBRA's expense depends entirely upon the rate your employer gets and the coverage you want. You pay what your employer pays plus 2% for an administrative charge.

[KC Jones]

Read your policy very carefully - you may be able to wait to make the payment, but you better have all of the paperwork done correctly and on time.

[prhom]

Here's a few thoughts to consider. I did what you are talking about when I was laid off in 2009. It wasn't for 90 days though. The deadline was like 45 days or so after I was off the policy. You can wait until whatever deadline they give you to make the decision. I actually went to the doctor before the deadline and had to pay up. It worked without any problem too.

The catch is that the next place I worked I had to prove that I hadn't had a gap in insurance prior to enrolling in their plan. If I had not enrolled in COBRA I would have had a six month period where pre-existing conditions would not be covered. So if that's not a concern then you could do as you say. Just make damn sure you don't miss the deadline!

Another catch, if your former company goes out of business or cancels their plan and doesn't get a new one then you are out of luck. COBRA only works if the company keeps the plan going. At least this is what I was told.

[ClevelandBronco]

http://members.chello.nl/k.wijker/homepage/1978/78_ttop_cobraii.jpg

Weird paint job for a Pinto.

[Shaid]

Here's a few thoughts to consider. I did what you are talking about when I was laid off in 2009. It wasn't for 90 days though. The deadline was like 45 days or so after I was off the policy. You can wait until whatever deadline they give you to make the decision. I actually went to the doctor before the deadline and had to pay up. It worked without any problem too.

The catch is that the next place I worked I had to prove that I hadn't had a gap in insurance prior to enrolling in their plan. If I had not enrolled in COBRA I would have had a six month period where pre-existing conditions would not be covered. So if that's not a concern then you could do as you say. Just make damn sure you don't miss the deadline!

Another catch, if your former company goes out of business or cancels their plan and doesn't get a new one then you are out of luck. COBRA only works if the company keeps the plan going. At least this is what I was told.


Pre-existing conditions are generally if you have more than a 63 day gap in coverage. Pre-ex does go away next year for everyone but it is already gone for kids under the age of 18 so if you are concerned about pre-ex on them, don't be. You're right about COBRA going away if the company goes out of business, etc. COBRA just basically lets you stay on the employer's plan. If they don't have a plan, there's nothing to stay on. If that happens though the insurance company generally needs to allow you to enroll in a guaranteed issue plan. Usually those rates are insanely high though.

[Gonzo]

Sweep the leg.

[mdchiefsfan]

http://sylvesterstallone.com/site/wp-content/uploads/2011/05/cobra.jpg

Damn YOU!!!!!

[Rasputin]

<iframe width="640" height="360" src="http://www.youtube.com/embed/my2v7YG6eQQ?feature=player_embedded" frameborder="0" allowfullscreen></iframe>


Insert coins to continue
<iframe width="640" height="360" src="http://www.youtube.com/embed/fvTQSxRZiek?feature=player_embedded" frameborder="0" allowfullscreen></iframe>

[The Bad Guy]

COBRA's expense depends entirely upon the rate your employer gets and the coverage you want. You pay what your employer pays plus 2% for an administrative charge.

Yep. When I was furloughed last year from my teaching job, Cobra coverage for me, my wife and 3 year old was 1,802 a month.

When I questioned why so much, the district told me their premium per month was $1,600.

[BlackHelicopters]

Cobra is expensive. On it now. Can last for 18 months. Better than being uninsured if you can afford.

[The Bad Guy]

Cobra is expensive. On it now. Can last for 18 months. Better than being uninsured if you can afford.

It absolutely is. However, if you are healthy, don't have a huge family, it makes little sense to pay well over a thousand a month for health insurance.

[mikeyis4dcats.]

It absolutely is. However, if you are healthy, don't have a huge family, it makes little sense to pay well over a thousand a month for health insurance.

until some gets in an accident and it costs you $85k.

[The Bad Guy]

until some gets in an accident and it costs you $85k.

Should have clarified my last post.

If you're healthy, I see little reason to spend for Cobra when you can get a far cheaper premium a month just in case something happens.

My buddy took Cobra when we were furloughed. He's single and was paying 1100 a month for it. I didn't understand it.

[Stewie]

I'm waiting to hear details from our HR department. I'll know more on Friday. I know my rate for COBRA, including the 2% admin fee, will be a little over $400.

[The Bad Guy]

I'm waiting to hear details from our HR department. I'll know more on Friday. I know my rate for COBRA, including the 2% admin fee, will be a little over $400.

No brainer then. Take the coverage.

[Stewie]

No brainer then. Take the coverage.

My question was more along the lines of the 90-day retroactivity issue. I'm not clear on that. Like I said, I'll know more on Friday. I knew the monthly amount wasn't going to be prohibitive.