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rrober49

COBRA

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The Consolidated Omnibus Budget Reconciliation Act (COBRA) gives workers and their families who lose their health benefits the right to choose to continue group health benefits provided by their group health plan for limited periods of time under certain circumstances such as voluntary or involuntary job loss, reduction in the hours worked, transition between jobs, death, divorce, and other life events. Qualified individuals may be required to pay the entire premium for coverage up to 102% of the cost to the plan.

 

 Wife's work got bought out about 12 years or so ago and we had to use it and it seemed like a insult to me but with a decent severance we could afford it 

  first issue we had was our monthly premium went from around 150 a month to 650 a month half my wife's take home monthly wages

 

     and I do not think I need a second issue  400 percent increase in our insurance as we loose our job and try to maintain coverage till our next place of employment is a poke in the eye for help

   I had moved on with this and let myself feel that some how people would be able to slip in and out of ACA insurance, but the other day I overheard someone claiming they would have to pay $1500 a         month for it so I guess not ? it takes time to get into ACA where as COBRA is offered instantly

 

 a lot of people moving into this choice in their life right now. Falling into a gap with a preexisting  condition  or paying  the massive increase

 

 I wouldn't know much more then that for now and thoughts, insight, ideas, would be greatly welcome

 

 

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