How much can I expect to pay for cobra insurance?
-
I was recently offered a job that pays much more than my current job. The downfall is the employer is small and does not currently offer an employee insurance plans. I'm 30 years old and I've never had any major health issues. I know I can keep the insurance from my former job thru cobra law. But what will i expect to pay. Currently as an employee I pay 26.35 per each pay period (2 week pay periods) for medical insurance and 9.53 a pay period for dental. In summary i pay roughly 71 dollars a month to cover myself only (no dependents). the company i work for has 7000 employees worldwide. probably 2-3000 u.s. employees. How much can I expect to pay for cobra?
-
Answer:
"I know I can keep the insurance from my former job thru cobra law." Nobody has mentioned that COBRA benefits last for only 18 months. As you say your young and have no health issues I would apply for a new individual health policy now the difference between what you will pay under COBRA and your own policy that is customized for your financial situation will be significant. I've done that many times for my clients
Kareem H at Yahoo! Answers Visit the source
Other answers
Five years ago when we had to get it, we paid over $600 a month for a family of four.
ginger
Ooooh, from what I remember of Cobra, it will be LOTS more expensive than what you're paying now. Like a couple hundred dollars a month. I did it once between jobs before I realized that I had other options. It was up to something like $400 or $500 a month for my husband & I when we last used it and that was several years ago; and it keeps going up. It's basically, the several employers told me, to try to DISCOURAGE you from using it! BUT what you could do instead, is call a Blue Cross agent, or some insurance like that and see what they can get you for minimal insurance. They should help you for free, or explain how to calculate it on their website. My husband did that when he switched jobs, and when he was self employed. He just got insurance for hospitalization, not for dr. visits (those he just paid when he needed to go). It might be MUCH more affordable for you. Good luck!
K.B.
TOO MUCH!!!!!!!!!!
Roy
I am paying $350.oo a month and it was my late wife's insurance . . . I have Kaiser Permanente ... And I am going to jump ship with COBRA and go and get something else. I have to.
SAMD010
COBRA IS PROably double that maybe a little more
redstake69
Plan on at least 2 1/2 times that. I had to pay about 224.00 a month for mine. It doesn't matter how many employees...you will be paying it all.... It really sucks, the law ought to say you only have to pay what your employer does, but it doesn't, it only guarantees that can not drop you for health conditions as long as you pay for it.
sarah_smiles
Your question cannot be answered because you did not indicate (and have no way of knowing) what percentage of your health coverage your company pays (i.e., you don't really think that your health coverage costs a mere $26.35 per pay two-week pay period, do you?). Generally speaking, you will have to pay whatever the company is charged for the insurance, which is usually cheaper than what you'd have to pay for it on your own, because they get a group rate, but, most likely, more than what you're paying, now. You need to discuss this with your benefits administrator, not strangers on a website. The "good" news is that you don't have to accept or reject the COBRA, immediately, but, naturally, if something happens to you in the interim between the end of your last pay period (i.e., the official end of your current health benefits), you might not be covered, and could suffer a huge financial hit. While it might be true that you've had no major health issues until now, as with the stock market, the past is not a good indicator of future trends!
skaizun
Your cobra will depend on the plans benefits. But I would expect about $350.00 to $400.00 per month individual, $800 - $850 family. You new employer may want to consider getting a group plan for his small company. You only need two to be considered a group and if you are younger than him it will pull his rates down. BTW the rates I mentioned above is what an employer pays. Cobra is the same.
protoham
Of course, no one hwere would know for sure, but if you budget $400 a month, that should cover it. I'd bet it's between $350 and $400. It has NOTHING to do with how much gets taken from your pay. Your employer pays most of the cost, anyway. The big question is, what will you do for coverage when your 18 months of COBRA is up?
mbrcatz
Related Q & A:
- How much can you expect to make as a surgeon?Best solution by Yahoo! Answers
- How much should I expect on my Tax return?Best solution by Yahoo! Answers
- If I have my JD, about how much can I make as a Paralegal?Best solution by answers.yahoo.com
- How much should I expect to make?Best solution by Yahoo! Answers
- How much should I expect to pay the movers?Best solution by Yahoo! Answers
Just Added Q & A:
- How many active mobile subscribers are there in China?Best solution by Quora
- How to find the right vacation?Best solution by bookit.com
- How To Make Your Own Primer?Best solution by thekrazycouponlady.com
- How do you get the domain & range?Best solution by ChaCha
- How do you open pop up blockers?Best solution by Yahoo! Answers
For every problem there is a solution! Proved by Solucija.
-
Got an issue and looking for advice?
-
Ask Solucija to search every corner of the Web for help.
-
Get workable solutions and helpful tips in a moment.
Just ask Solucija about an issue you face and immediately get a list of ready solutions, answers and tips from other Internet users. We always provide the most suitable and complete answer to your question at the top, along with a few good alternatives below.