Terminated Without COBRA

[Jack_Dawson]

Greeeeeaaaat. Bad enough that my company went under and we all got zero severance. Now come to find out if we DO officially go bankrupt (which it's looking like), COBRA won't be available. Guess I'll do w/o health insurance.

[demnan]

1. I'm sorry

I hope you can get another job quickly.

[Modem Butterfly]

2. Wow. That sucks.

I don't know what else to say.

[sendero]

3. Stinks..

.... but if it will make you feel any better, the cost of insurance under COBRA is astronomical, so unless you squirreled away thousands of $$ you wouldn't be getting it anyway.

[peacebird]

5. true words there... I imagine COBRA is of no help to most folks

My husband just changed jobs, we looked at COBRA to avoid the dreaded "pre-existing condition" denial of payment... (i was injured in an auto accident dec23, 2004 and am still in treatment for my back)

the COBRA cost for me alone would have been $900 a MONTH - who on earth can afford THAT? and if they could afford that then they could actually just pay medical bills out of pocket and probably save money doing it...

COBRA - it sounded good when they enacted it, should have known it was just more smoke and mirrors...

[Jack_Dawson]

13. So did you find a better plan? n/t

[bif]

4. COBRA cost me $800 a month

When I was out of work. It's pretty outrageous.

[musette_sf]

9. better than not being able to get insurance, though

I rode the COBRA till the bitter end, $700 a month's worth.

Then tried to apply for a policy with the same insurer that I had been with while at last job and while under COBRA.

My files got sent overseas (India) for review and it took 2 months, during which time I could have signed up for insurance through the place I W-2 through, but didn't because I was waiting on approval, and also paying into the account I was hoping to get since they demanded payment on Day 1. I was denied coverage, and it was complete BS.

I didn't fight it because ya know, I only have so much time and energy to fight lies and BS. I finally got coverage, through the W-2 place, at the next open enrollment, but it was a VERY scary and VERY expensive wait.

[Jack_Dawson]

11. Scary Story...So what would you recommend?

35, single, relatively good health.

JD

[MidwestMomma]

12. Check into a catastrophic-type plan or indiv major med w/ big deductible

Premium will probably be lower than COBRA and you'll be covered in case something unexpectedly awful happens. It doesn't take long for a hospital bill to add up to the 10,000's.

If you have auto insurance, check with your agent and see what kind of health plans they have. There are also short-term plans too.

As you are single and relatively healthy, if you go with a big deductible and large out-of-pocket, you'll have to cover the costs of dr visits and prescriptions in case your sick. But you'll save money on the premium.

I know way too much about insurance :)

[musette_sf]

16. You're younger than me

and presumably in better health. You may fare better than I. One thing I wish I had done in retrospect, is to go to some kind of insurance agent person and discuss various plans with them. One of my mistakes was just to apply online with the same insurer I was already with, rather than researching others.

But I have also heard stories like this one: a younger (about your age) guy I work with, applied for insurance for himself and his wife. His wife was denied because she had filled a prescription for (!?!?) PRE-NATAL VITAMINS. Completely insane.

[barb162]

6. You might want to check further; I think it legally has to be made

available since under COBRA you'll be paying all the premium. The contract will be between you and the insurer. Contact the insurer directly for starters.

[livinginphotographs]

8. COBRA is only required for employers

with over 20 employees.

Less than 20, you're SOL.

Sorry. :(

[lateo]

7. Cobra is crap anyway...GI Joe is much better!

GO JOE!

[datasuspect]

10. it's not all that bad.

if you live in a large metro area, there is probably still funding for county health services.

cook county (the new stroger) hospital trauma center in chicago is my primary health care provider.

just have to live through colds and flu unless you want to spend 6 hours waiting to get into a clinic.

[madison2000]

14. I was offered COBRA but couldn't afford it

I went for 3 years without insurance and I have some chronic medical problems. I never found any kind of assistance, I just paid out of pocket and deferred seeking treatment. Its what the 45 million do in this country, and it sucks.

[Sgent]

15. Cobra does not have to be offered

If the company eliminates their health plan. Most bankrupt companies don't have health insurance benefits.

I know people yell and scream about the premiums, but as someone who cuts checks, I promise you that the company is paying basically the same premium you would have to pay to keep it via Cobra*. If the premium was $700/month, the company is actually paying that as one of your benefits while employed. Is COBRA a great solution? NO. That being said, for an intermediate fix (which it was) it has helped a lot of people.

*About 50% of companies charge an extra 3% for administrative costs as allowed by law.

[bettyellen]

17. this site has some good links-

and there's a similar state site for cal.
every state has a gov office web site.
http://www.healthynj.org/health-wellness/insurance/links.htm