health insurance??? - Page 2

hellosailor · 08-02-2007, 17:27

S-
"when I left my job last spring my COBRA costs were going to be nearly $400/month. " I don't think I'm getting it across. You "COBRA" costs were nothing. COBRA is just legislation, it is NOT insurance.
If you paid $400 under your COBRA-mandated rate reduction, that means your insurer probabloy paid something like $250-300 when you were an employee, and that your rates would rist to $550-600 when the COBRA mandated rate reduction expired.
What you pay for "COBRA" is a set percent(?) of what your employer previously paid for you, and a set percent of what your own individual coverage under the same or a similar plan would cost you.
If your employer had a 'cafeteria plan' where you could select from among four policies, as many do, your only option under COBRA would be based on the one plan you had selected while still employed. But if those four plans were:
1- $150/month cheap HMO
2- $225/month better HMO
3- $350/month better insurer, high deductible
4- $600/month real insurance with national coverage accepting any provider and low deductible

Then similarly your COBRA coverage might range from $250-$1000 per month, roughly 1.5x whatever your coverage was a a member of the group, because you are still considered a quasi-member of the group.

Without COBRA-mandated reductions, you'd probably pay 2.5-3x what your old payment was.

COBRA just means "Hey, if you canned somebody, they're entitled to continue their insurance coverage for a while till they figure out something else". It is supposed to cover you through your job search and the qualifying period for your next employer, or your other plans. But it is *not* insurance. It will always allow you to maintain your existing policy (or close to it) at a below-market rate. If you find a cheaper policy, that just means there are cheaper policies than what your employer had.

bluewater · 08-02-2007, 17:53

Quote:

Originally Posted by hellosailor

COBRA just means "Hey, if you canned somebody, they're entitled to continue their insurance coverage for a while till they figure out something else" ... It will always allow you to maintain your existing policy (or close to it) at a below-market rate...

Exactly. Thanks for explaining the ins and outs to everyone. Like I said, if your COBRA rate is far and away the best deal for you, $90/month for instance, then nothing can beat that. Similarly, if you have health problems, it's imperative you avoid lapsing your coverage. We can talk semantics around the clock, but the clearest we can all be is that people must shop around for the best option for THEMSELVES. Most people think COBRA is their best bet and don't bother to shop around, when a better price for better coverage is very likely available.

I quit my job, moved out of state and onto a sailboat. COBRA at any price would have not been the best option because my coverage was with a plan only available in that region of the country. I'd have been out of network for all services after moving. Even if that wasn't the case, it was so ridiculously expensive for mediocre coverage for a healthy person my age. So I chose a large-network, high-deductible plan good for people in my situation (and with network coverage even in the small town where we chose to winter). That's the nut of it: It works for ME.

Brent Swain · 08-02-2007, 19:14

Consumer guides recommentd Voyager as one of the best .
Avoid Worldwide Mediclaim Travel Underwriters at all costs.I made a claim and they simply refused tro pay, because I didn't have a credit card for them to put my expenses on and force me to go to court to get reimbursed. My brother and others I've spoken to had major headaches dealing with them..Their main focus is trying to weasel out of paying any way they can.
Brent Swain

hellosailor · 08-02-2007, 21:45

"my coverage was with a plan only available in that region of the country."

Yeah, a lot of people have been getting that surprise. Go on vacation and the kids come down with an earache from something they caught on the plane, or someone gets hurt skiing, or steps on a sea urchin...and people find out the hard way, they have no medical coverage until they return home. Here in the US where we're used to being "home" with the same currency and language and all even if we're two thousand miles away from it...that's a rude surprise. There don't seem to be many national provider plans left, certainly not in the budget/HMO price range.

08-02-2007, 19:14	#3
Brent Swain Registered User Join Date: Mar 2004 Posts: 620	health insurance Consumer guides recommentd Voyager as one of the best . Avoid Worldwide Mediclaim Travel Underwriters at all costs.I made a claim and they simply refused tro pay, because I didn't have a credit card for them to put my expenses on and force me to go to court to get reimbursed. My brother and others I've spoken to had major headaches dealing with them..Their main focus is trying to weasel out of paying any way they can. Brent Swain __________________ Brent Swain

Thread Tools
Show Printable Version Email this Page
Display Modes	Rate This Thread
Switch to Linear Mode Hybrid Mode Switch to Threaded Mode	Rate This Thread:

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Health insurance ?	irwinsailor	Dollars & Cents	50	16-03-2008 11:17
Boat Insurance	Triton318	Rules of the Road, Regulations & Red Tape	29	27-12-2006 05:27
Insurance for Blue Water Cruising in South Pacific	Jacana	Dollars & Cents	0	04-05-2006 04:52
Personal effects insurance.	tenknots	Dollars & Cents	0	16-04-2003 01:18

08-02-2007, 17:27	#1
hellosailor Registered User Join Date: Apr 2006 Posts: 3,997	S- "when I left my job last spring my COBRA costs were going to be nearly $400/month. " I don't think I'm getting it across. You "COBRA" costs were nothing. COBRA is just legislation, it is NOT insurance. If you paid $400 under your COBRA-mandated rate reduction, that means your insurer probabloy paid something like $250-300 when you were an employee, and that your rates would rist to $550-600 when the COBRA mandated rate reduction expired. What you pay for "COBRA" is a set percent(?) of what your employer previously paid for you, and a set percent of what your own individual coverage under the same or a similar plan would cost you. If your employer had a 'cafeteria plan' where you could select from among four policies, as many do, your only option under COBRA would be based on the one plan you had selected while still employed. But if those four plans were: 1- $150/month cheap HMO 2- $225/month better HMO 3- $350/month better insurer, high deductible 4- $600/month real insurance with national coverage accepting any provider and low deductible Then similarly your COBRA coverage might range from $250-$1000 per month, roughly 1.5x whatever your coverage was a a member of the group, because you are still considered a quasi-member of the group. Without COBRA-mandated reductions, you'd probably pay 2.5-3x what your old payment was. COBRA just means "Hey, if you canned somebody, they're entitled to continue their insurance coverage for a while till they figure out something else". It is supposed to cover you through your job search and the qualifying period for your next employer, or your other plans. But it is not insurance. It will always allow you to maintain your existing policy (or close to it) at a below-market rate. If you find a cheaper policy, that just means there are cheaper policies than what your employer had.

08-02-2007, 21:45	#4
hellosailor Registered User Join Date: Apr 2006 Posts: 3,997	"my coverage was with a plan only available in that region of the country." Yeah, a lot of people have been getting that surprise. Go on vacation and the kids come down with an earache from something they caught on the plane, or someone gets hurt skiing, or steps on a sea urchin...and people find out the hard way, they have no medical coverage until they return home. Here in the US where we're used to being "home" with the same currency and language and all even if we're two thousand miles away from it...that's a rude surprise. There don't seem to be many national provider plans left, certainly not in the budget/HMO price range.