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If I was to pay into my COBRA for the current services I get (all very good) I would be paying $64.22 for dental and $420.40 for medical =$484.62 a month.
My medical is with Kaiser and I would like to keep going to Kaiser. When I got quoted plans that would suit me the one I feel is the better fit for them is their copayment 40 plans which is $271 a month with no deductible and has a $3,000 max. out of pocket allowance. If I pay COBRA for dental but buy separate medical insurance this would be $335.22 a month.
Am I better off staying with COBRA or buying the separate plan? Please help. I really am an idiot with this! My family is telling me to just pay into COBRA, but a couple friends I asked said not to.
If I was to pay into my COBRA for the current services I get (all very good) I would be paying $64.22 for dental and $420.40 for medical =$484.62 a month.
My medical is with Kaiser and I would like to keep going to Kaiser. When I got quoted plans that would suit me the one I feel is the better fit for them is their copayment 40 plans which is $271 a month with no deductible and has a $3,000 max. out of pocket allowance. If I pay COBRA for dental but buy separate medical insurance this would be $335.22 a month.
Am I better off staying with COBRA or buying the separate plan? Please help. I really am an idiot with this! My family is telling me to just pay into COBRA, but a couple friends I asked said not to.
Are you aware of the portability of health insurance?
If you have previous existing conditions, under HIPPA any GROUP health coverage can't exclude you if you've had continous GROUP coverage with no gap greater than 63 days. Otherwise, if you've not maintained continous GROUP coverage, any new group, such as a new employer, can exclude previous existing conditions for 18 mo --- 2 years, I'm not sure exactly, but a long time either way.
Although COBRA cost us $1500/mo, we opted for it to preserve our right to maintain continous coverage. If you have any previous conditions at all, do look at this carefully.
Here's another little game you can play----HIPPA says you must maintian continous group coverage with no gap greater than 63 days. I wouldn't sign up for Cobra right away, wait the 60 days (don't push your luck with 63 days), see if you get another job with group coverage, you've still maintained the continous coverage. If you do pick up Cobra from that 63 day period you will have to pay those 2 months in arrears, but you can play for time!
Do the separate plan if it's cheaper and Cobra will allow you to just keep your dental going.
Cobra is just meant as a stop-gap between employer assisted insurance - at some point, you will no longer qualify and will either need to be employed and under new coverage or find your own policy to buy (which it sounds like you have).
Just make sure you know all the rules and don't hurt yourrself in the long run.
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