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Cobra cost - Confused

Posted: Sep 13, 2012

What are others on Cobra doing w/regards to high deductible? At this, I won't be able to afford any meds.

COBRA Cost - Inquiring minds

[ In Reply To ..]
My cost for COBRA, if I stay on my employers plan is $600 a month, which I cannot afford so I'm looking into a private policy with a higher deductible, copays on office visits but no drug coverage. I need my meds but I enrolled in one of those generic drug programs where I can get 3 months for $10, quite a few of the local pharmacies have them. I haven't tried, but some of the drug companies also have programs to help people who are having trouble affording their meds.

Cobra - Confused

[ In Reply To ..]
I've looked into other insurance policies, but all seem to have a pre-existing clause with a waiting period of a year. I am tempted to take a chance on having no problems within a year just so I can have coverage for other problems. My Cobra ends in December, so I have a couple of months to find another company.

Something to consider - Inquiring minds

[ In Reply To ..]
If you show a gap in coverage, it's difficult to get insurance again, especially with preexisting conditions. Also, you won't be eligible for coverage right away at your new job, there are always eligibility requirements. I'm healthy too, but an injury or anything unexpected will mess you up big time. I fractured and dislocated my ankle last year. My hospital bill alone was over 20K, plus all the PT I needed, thankfully I was insured. Personally, I wouldn't be willing to take the chance, stuff happens.

Cobra - Confused

[ In Reply To ..]
I don't want to have a gap in coverage either. I can't find an insurance company without a preexisting clause except for a state program which costs more than Cobra. I've found coverage with a Health "Plan" which is a discount program, not major medical, and I definitely don't want that. Any suggestions?

PCIP Plans by state are usually cheaper and better - poor

[ In Reply To ..]
Unfortunately, you have to be uninsured for 6 months to qualify. My state is $362 per month premium BUT only $20 copay and $6000 maximum out of pocket, which is much better than most insurance companies do. I think the insurance companies are putting the screws in because they know their days of gouging the workers for premiums and whatever-they-want are coming to an end. I don't have a pre-existing condition, but if I did I would definitely remain uninsured to get on this, seeing as having insurance now is just like having no insurance because the deductible and OOP are so huge it is no more than an incentive NOT to go to the doctor.

Cobra confused - mt too

[ In Reply To ..]
You should exhaust your Cobra benefits of 18 months (apply for private insurance a couple months before this happens). When you apply there will be a section on the application to list all your group coverage for the past 24 months (including Cobra coverage). In most states having Cobra/group coverage for 24 CONSECUTIVE months will keep you from having to fill out the physical exam questions which of course would make you disclose your pre-existing conditions. Do not cancel your Cobra until you have your new private insurance card in your hand. The trick is never have even 1 day without insurance.

Cobra confused - mt too

[ In Reply To ..]
I just want to add that in most states you can have an independent insurance agent help you at no cost to you...they are paid by the insurance company. A professional would be better able to advise and guide you through the process and make sure there is no break in your coverage... Been there and totally understand.

Cobra - Confused

[ In Reply To ..]
Thanks, that is a good idea. I'll call an agent Monday. I definitely don't want to be w/o coverage.

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