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Cobra insurance

My husband is currently getting insurance through his job, but his contract will be up soon and he will be leaving that job. He is not interested in extending. How does it work with Cobra insurance. I heard that Cobra is supposed to cover like our current insurance is at the moment. Does any one know how it works when we switch over, and how long we can stay on Cobra. Is it only until he gets a new job? Any knowledge on the subject is welcome. :-)

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Anonymous

Asked by Anonymous at 10:15 PM on Apr. 10, 2009 in Money & Work

Answers (9)
  • Cobra insurance is expensive, if i remeber right it is like 500-600 a month. What it does is extends your insurance you have. Like for ex. if your deductible is 3000 and your co pay is 25, you already met your deductible for the year and you would like to keep youi insurance going until the next year or whenever you come across a different insurance, cobra makes that happen. I think cobra is a good thing to get, when you already met your deductible, your co pay is cheap and you are having to go to the doctors alot and it would cost you more to not have insurance rather than pay the monthly cobra charge. Also if you look into chips or medicaid and you can see if you qualify if that is an option for you. Im not saavy on medicaid or chips but i heard it helps out alot.
    ARuss

    Answer by ARuss at 10:33 PM on Apr. 10, 2009

  • Also another thing i'll add is sometimes if you dont have insurance and not needing to go to the doctor, but happen to get sick and need to go that one time it turns out being cheaper that way instead of paying the monthly 500-600 dollars, you would only pay the doctor and med visit w/ out insurance and it is pricey for one visit for 2-$300, beats the 7k you'd be paying that whole yr. hope this helped.. sorry so long
    ARuss

    Answer by ARuss at 10:37 PM on Apr. 10, 2009

  • COBRA allows you to keep the insurance you've had, but you will be paying for ALL of it. Previously your husband's employer had been paying a portion. I was paying $600+ per month for our coverage, on a PPO. It was exceedingly pricey and if my husband hadn't had a pre-existing condition we could have gotten something cheaper on our own.

    You can continue your coverage for up to 18 months. But shop around first. Check out ehealthinsurance.com, and you can get an idea of what you can get.

    I wouldn't do COBRA unless I had NO other choice.

    gdiamante

    Answer by gdiamante at 12:00 AM on Apr. 11, 2009

  • As a medical biller, I've seen alot of people have problems with COBRA. In a lot of cases, your coverage is terminated and then reinstated... which means for a period of time that you are covered, your claims can be denied and then you have to go through the hassell of getting them reprocessed. I agree with the PP that if you have any other option, go with that before COBRA.
    Silvertears1275

    Answer by Silvertears1275 at 12:24 AM on Apr. 11, 2009

  • I hope this helps. I agree from what I hear COBRA sucks. Good luck.
    http://www.cobrainsurance.com/COBRA_Law.htm
    SusieD250

    Answer by SusieD250 at 2:13 AM on Apr. 11, 2009

  • I would suggest not doing COBRA. I have paid out over $1000 and they have still not activated the insurance, Anthem sucks
    Anonymous

    Answer by Anonymous at 2:18 AM on Apr. 11, 2009

  • Thanks, We will probably look around before we do anything. I didn't know we had other options than Cobra. We do have a little one that needs shots and well baby check ups, so we will need to go to the doctor a lot. Thanks again.
    Anonymous

    Answer by Anonymous at 8:24 AM on Apr. 11, 2009

  • Anon 2:18 - LOL Yes, Anthem sucks! I work there. If you only knew.....
    Anyway, Cobra sucks also. Unless that is your only option, do not take cobra. Start shopping around for individual coverage now.
    Anonymous

    Answer by Anonymous at 9:02 AM on Apr. 11, 2009

  • We found it was WAY WAY too expensive to take after my hubby lost his job last year. Fortunatly nothing happened to any of us for the few months we didn't have ins.
    Anonymous

    Answer by Anonymous at 3:54 AM on Apr. 15, 2009

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