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LuckyStar
LIF Adult
Member since 7/14 7274 total posts
Name:
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COBRA gurus please come in!
So I've accepted a new job with a 42 day waiting period for insurance. My old job covers until the end of the month in which I stop working, which will leave us without insurance for 2 weeks. COBRA is $2400 and I would obviously like to avoid paying it.
My understanding is:
Take the COBRA info and neither accept nor decline coverage. You have 45 days to pay your premium and coverage is retroactive to the day you become uninsured.
This is my plan:
Since there's 45 days to pay, and I'll only be uninsured for 2 weeks I won't pay the premium upfront. Should something catastrophic happen during those 2 weeks, I will elect the coverage and pay the $2400. If something minor happens (urgent care, ped visit) I'll just pay out of pocket.
Does this make sense? Am I misunderstanding any of this? My HR dept is terrible and the HR dept at my new job is significantly worse, so this is why I need you guys!
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Posted 10/20/16 10:54 PM  |
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chilltocam
LIF Adult
Member since 11/11 9141 total posts
Name:
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COBRA gurus please come in!
Yes, you can do exactly what you're planning do. If needed, you can pay the for COBRA and have it be effective retroactively
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| Posted 10/20/16 11:13 PM |
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Katareen
5,000 Posts!
Member since 4/10 7180 total posts
Name:
Katherine
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COBRA gurus please come in!
Yes, you're exactly correct!
Just make sure your paperwork is filled out and it's in a place where someone knows about it and can mail it for you should something occur.
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| Posted 10/20/16 11:27 PM |
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ChilisWife
God Bless America
Member since 5/05 3572 total posts
Name:
A.K.
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Re: COBRA gurus please come in!
Yes I did just that years ago when I changed jobs.
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| Posted 10/21/16 6:58 AM |
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LuckyStar
LIF Adult
Member since 7/14 7274 total posts
Name:
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COBRA gurus please come in!
Thanks all. I can say with 100% certainty that DD will wake up with a fever on 12/1.
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| Posted 10/21/16 9:12 AM |
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LBBCHGRL
LIF Infant
Member since 1/08 199 total posts
Name:
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Re: COBRA gurus please come in!
Even if your DD gets sick, I would still check with the doctor on the cost of the visit. Paying out of pocket still maybe cheaper than paying for the cobra.
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| Posted 10/21/16 9:56 AM |
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NYCGirl80
I love my kiddies!
Member since 5/11 10413 total posts
Name:
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Re: COBRA gurus please come in!
If it's a very short gap, it's ok. But two things to keep in mind -
Any gap more than 63 days will preclude your new insurance from covering a pre-existing condition.
Any gap more than 90 days will mean you have to pay a penalty on your taxes.
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| Posted 10/21/16 11:42 AM |
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Goobster
:)
Member since 5/07 27557 total posts
Name:
:)
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Re: COBRA gurus please come in!
Posted by NYCGirl80
If it's a very short gap, it's ok. But two things to keep in mind -
Any gap more than 63 days will preclude your new insurance from covering a pre-existing condition.
Any gap more than 90 days will mean you have to pay a penalty on your taxes.
hmm. I thought Obama did away with the preexisting illness clause?
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| Posted 10/21/16 11:43 AM |
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Leb
LIF Adult
Member since 12/09 4166 total posts
Name:
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Re: COBRA gurus please come in!
Posted by LBBCHGRL
Even if your DD gets sick, I would still check with the doctor on the cost of the visit. Paying out of pocket still maybe cheaper than paying for the cobra.
Agree with this, earlier this year I had to buy an antibiotic and was between insurance (had it, but didn't have the ID number in hand). I was prepared to pay like $800 for the medicine for my DD who needed and it was $36! I was so relieved. Anti-biotics are cheap and an office visit I would think may only be $!50 which is better than $2,400!
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| Posted 10/21/16 1:39 PM |
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Re: COBRA gurus please come in!
Posted by Leb
Posted by LBBCHGRL
Even if your DD gets sick, I would still check with the doctor on the cost of the visit. Paying out of pocket still maybe cheaper than paying for the cobra.
Agree with this, earlier this year I had to buy an antibiotic and was between insurance (had it, but didn't have the ID number in hand). I was prepared to pay like $800 for the medicine for my DD who needed and it was $36! I was so relieved. Anti-biotics are cheap and an office visit I would think may only be $!50 which is better than $2,400!
An urgent care is like $75-$125 too, which is reasonable
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| Posted 10/21/16 1:53 PM |
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LuckyStar
LIF Adult
Member since 7/14 7274 total posts
Name:
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Re: COBRA gurus please come in!
Posted by LBBCHGRL
Even if your DD gets sick, I would still check with the doctor on the cost of the visit. Paying out of pocket still maybe cheaper than paying for the cobra.
Oh most definitely 
But just in case I told daycare she's coming in wearing a hazmat suit and a helmet.
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| Posted 10/21/16 1:55 PM |
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LuckyStar
LIF Adult
Member since 7/14 7274 total posts
Name:
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Re: COBRA gurus please come in!
Posted by NYCGirl80
If it's a very short gap, it's ok. But two things to keep in mind -
Any gap more than 63 days will preclude your new insurance from covering a pre-existing condition.
Any gap more than 90 days will mean you have to pay a penalty on your taxes.
Yes, I was originally worried about this as well but it's 15 days. I'm having a heart attack anyway, though. I think it's awful that these waiting periods even exist. Interestingly, when I started working for my private company many years ago I had insurance automatically. I'm going to be working for the state and they make you wait 42 days!
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| Posted 10/21/16 1:57 PM |
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NYCGirl80
I love my kiddies!
Member since 5/11 10413 total posts
Name:
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Re: COBRA gurus please come in!
Posted by Goobster
Posted by NYCGirl80
If it's a very short gap, it's ok. But two things to keep in mind -
Any gap more than 63 days will preclude your new insurance from covering a pre-existing condition.
Any gap more than 90 days will mean you have to pay a penalty on your taxes.
hmm. I thought Obama did away with the preexisting illness clause?
Affordable Care Act says that you can't be denied coverage because of a pre-existing condition. However, even though you have insurance, if you have a gap greater than 63 days, they can deny you coverage for that pre-existing condition.
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| Posted 10/21/16 2:02 PM |
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Goobster
:)
Member since 5/07 27557 total posts
Name:
:)
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Re: COBRA gurus please come in!
Posted by NYCGirl80
Posted by Goobster
Posted by NYCGirl80
If it's a very short gap, it's ok. But two things to keep in mind -
Any gap more than 63 days will preclude your new insurance from covering a pre-existing condition.
Any gap more than 90 days will mean you have to pay a penalty on your taxes.
hmm. I thought Obama did away with the preexisting illness clause?
Affordable Care Act says that you can't be denied coverage because of a pre-existing condition. However, even though you have insurance, if you have a gap greater than 63 days, they can deny you coverage for that pre-existing condition.
Oh, I see. I didn't know that. Thanks.
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| Posted 10/21/16 7:15 PM |
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