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Anyone know how much Cobra is for Transtech? - I give up but dont want to call yet. nm

Posted: Jan 29, 2010

Not sure for Transtech - but mine is $750.00/month. - nm

Alternative to Cobra - I have learned the hard way

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Don't know how much COBRA is with TT, but I have used COBRA twice when I left other companies, and paid both arms and both legs for family coverage through COBRA for several months. If you only need coverage for several months until insurance kicks in with a new job, you might want to consider short-term coverage through an independent company like BCBS. It can be used for up to 6 months, and I have heard they accept almost anybody for that period of time. There might be preexisting conditions they would not allow, but unless your health is just really, really bad, even if you have to pay out of pocket for some things you normally would not, you still might save in the long-run over using COBRA.

I'm not eligible for any individual insurance. - I have to have Cobra. nm

[ In Reply To ..]
nm

I got a letter saying that because of our separation from the... - mt68

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old PEO, we were eligible to get a 65% reduction in COBRA payments if we met the income guidlines (part of the Recovery and Reinvestment Act passed last year). I called this place and was told that a determination could be made in days. I then got a letter stating that for Employee & Spouse benefits, all coverages, it was about $1000. If we were to get the 65% reduction, this would have made coverage $350 per month for the next 15 months.

The caveat is that to get the 65% assistance with the COBRA, you cannot be eligible for benefits anywhere else. Since I didn't qualify for that (still working), I didn't keep the information, but I do know for sure that the deadline to sign up for COBRA from the old PEO said March something.

I also got a letter from BCBS saying that if I took a conversion plan before 01/31, it would be retroactive to 01/01 with no lapse in coverage. Of course if you don't take action today, you might still have a lapse in coverage but I think you could still get coverage extended under COBRA.

If you go to http://www.dol.gov/ebsa/COBRA.html it explains a little about about this Act.

I don't think any of the Cobra info from the old company applies since - we are eligible for benefits at the new place. nm

[ In Reply To ..]
nm

In the conversations I had, it was not cut and dried that you were... - mt68

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automatically not eligible to COBRA the old benefits just because you moved to the new company. As I understood it, you had to be currently ineligible for benefits when applying and could apply until March. That could be part-time work or no work.

I am not saying this is gospel, but if you need to COBRA your benefits, I would talk with the old PEO and see what your options are.

Very interesting. Thanks! - nm

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nm

side note--how much notice do we have to give? - sameboat

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Anyone know? I can't find it in their paperwork.

For reference purposes, I don't know (usually 2 weeks). For COBRA, - no notice is required. sm

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You receive paperwork about two weeks after your last day with information about the COBRA process and the cost of the premium. I think you have 60 days to make up your mind and pay back premiums.

COBRA - what was I thinking!

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I am paying $474.00 for just myself

Ouch. Is that based on the insurance company we - just switched from? nm

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nm

you will receive a letter - MT

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I just received a letter about a week ago about my COBRA rates. They were outrageous. As COBRA always is.

Can you share what your rate was, and if it's for the new company or the old one? - The rate determines whether I have to stay. nm

[ In Reply To ..]
nm

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