COBRA Health Insurance
COBRA Continuation Coverage. If the individualís employer continues to operate and offer a group health plan, COBRA continuation coverage may be available. COBRA, which generally applies to employers with 20 or more employees, allows the individual and his/her family to continue the same group health coverage at group rates. An individualís cost for coverage may be higher than what the individual was paying before (and is usually higher than the cost for coverage under special enrollment in a spouseís plan), but generally the cost is lower than that for private, individual health insurance coverage. The plan should send a notice regarding the availability of COBRA coverage. After this notice is provided, the individual generally has 60 days to elect coverage and it is then available retroactive to the loss of coverage. (Note: Once an individual has elected COBRA, he/she wonít be eligible for special enrollment in another group health plan, such as a spouseís plan, until all COBRA coverage available is exhausted. Therefore, it is important to consider special enrollment in another plan promptly.) COBRA coverage typically lasts 18 months, but may last longer in certain circumstances.
We are paying and large amount for Cobra insurance to only find out the ex-employer changed insurance to a $5,000.00 deductable per person. :wacko:
Meds are not allowed to go toward the deductable unfortunately or I would be close to it maybe by the end of the year. lol. It's crazy!!!
Our economy is awful, high unemployment rates, people can't afford Cobra though they have, like us, no other choice only to find out there is a high deductable. Why even have "insurance?"
That is high Faith....does it vary with each employer or is that the COBRA rate always?
It's because the number of employees and the fact that, God forbid, last year they had a huge claim. One of the employees was dx'd with cancer. I thought this is why we have health insurance. Apparently, it really effected the rates. It's awful. I really wish there was another way. We really need either State Insurance or health care reform. It's pretty bad when a citizen who has worked 28 years non-stop can't get insurance except through Cobra.
My husband is being told that he has to tell them right away once he is employed so they can drop coverage on us. We wish he had a job; unfortunately there are 300 people applying for one position in Calif. It's awful!! Trust me, it's not from lack of trying on his part. Lol.
Sorry, I got on my soapbox.
My experience with COBRA is that it is so expensive, most people can't afford it. The loss of the job itself is a substantial loss of income and with the high premiums of COBRA it is unaffordable to all but a few individuals, or families. Yes, we need health care reform. We have needed health care reform for years and years. The politicians talk about it, but they never actually do anything about it. The health care system is broken, and the solution/s are complicated. Then there is the greed factor (insurance companies, pharmaceutical companies, medical suppliers, etc.) added to the equation.
Our Cobra is $1200.00 per month. I checked with the State of CA for high risk medical and was told all 18-36 months of Cobra must be exhausted prior to myself applying and then my cost is $660.00. I can't afford it. California lets employers add an additional 2% handling fee (sending in the check with their check for employees) on top of the $1200.00. It's laughable.
We have exhaused our life savings in order to have insurance for the six months my husband has been unemployed all because of the numerious auto-immunes (Lupus, Fibro, high blood pressure, leaky heart valves, Sjogrens, psorasis, Gerd, etc.). Now Obama is stating he is adding a "health insurance tax" on all employees whom receive insurance through their employer. Just a heads up. All the automobile "buy-outs" have to be paid somehow.
Our govenor is doubling dmv fees; the minimum will be $500.00. If my parents were not here; I would move in a heartbeat. Unfortunately, my Mom was dx'd with cancer for the 2nd time in 7 years and will be 70. She is going in for surgery next Thursday.
I agree, we need health reform. First we need a president and govenor of calif. whom has an economics degree and can balance budgets. I honestly think it should be mandatory before anyone runs for Govenor or President (that applies to all past, present and future electivees).
I am sorry; I am on my soapbox. My apologies.
I live in California too. We are in for some very hard times here during this recession. I would move also, if my mom and dad didn't live here. Balancing the budget is going to be quite a battle here. The Democrats want one thing and the Republicans want another. State fees for services are going up and up and the manpower to implement these services is going down. It looks like there are going to be more layoffs of CA State Worker's. Our unemployment figures are over 11%, and may go up even more before this recession is over.
Hi Drink of Water,
What part of CA are you in? North, Central or Southern?
It's awful in California and I don't see an end any time soon. Personally, it's overated and overly expensive. What amazes me is all the "Garage Sales" due to "moving out of state."
Does our legislature not understand they are literally driving people away from this state which is like shooting themselves in the foot? Less property taxes, etc. I am deeply ashamed of the mess the State of Calif. is in due to our Govenor. My Dad was driving north to see an ill relative and noted 150 brand new police cars that were driving in packs of three. I am on the countdown to the next election. lol.:laugh::laugh:
There is a woman whom has an economics degree that is considering running. She is very overly qualified and can balance budgets, etc. She has my vote.