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0 pointsexhilaration6y ago0 comments

Since my wife is on my health insurance plan, COBRA is going to be very expensive.

Instead of COBRA, can you get on an Obamacare ACA plan? That might be much cheaper.

0 comments

11 comments · 3 top-level

hysan6y ago· 4 in thread

My wife is a certified social worker and knows just about everything there is about that. It’ll be cheaper but far worse in terms of coverage and deductibles. So it’s an option for stretching budget, but it’s not a good solution if anything significant happens. I’ll ask her if she knows what’s changed with regards to COVID-19 related cases, but my guess is that nothing in terms of coverage has changed. So given the current world circumstances, switching would be akin to taking a giant gamble on your health.

redisman6y ago

Unless you have pre-existing conditions or very expensive and rare prescriptions, it's probably worth the gamble to go to something like a silver plan at this point. How many months of COBRA would you pay until you reach the max out of pocket payout for the silver plan is some math you should do. You can scale that based on your risk tolerance.

geerlingguy6y ago

An equivalent plan in my state (MO) is 2.5x more expensive (monthly), with a higher deductible and fewer available in-network providers :(

chris116y ago

Is medicaid a good option? I think you should qualify in California. Also, I don't know your situation, but has your health needs changed recently? I know Kaiser is trying to limit unnecessary office visits.

PopeDotNinja6y ago

In California, Obamacare IS Medical (aka Medicaid). I signed up once. I couldn't get my Vyvanse for my ADHD because it's a controlled substance, and the Medical doctor wouldn't touch a prescription for it.

Pro-tip:. If you pay out of pocket for your regular doctor (maybe tell then your situation and work out a deal), you can get Medical to pay for the prescription (verify before trying).

1 more reply

malyk6y ago· 4 in thread

you don't have to pay for cobra until you need it though, so you could get out spending $0, iirc.

justin666y ago

There is a grace period before you have to start paying, and the dates should be on the letter you receive when you leave your employer. The grace period does not last forever, and when it's almost up, you need to pay several months at once to get coverage. (another comment suggests these rules might vary somewhat by state, and I'm sure that is also possible)

masonic6y ago

For ACA, policies, the grace period is forever. Job loss is a "life event" that lets you jump in any time, not just an arbitrary open enrollment window.

1 more reply

mceachen6y ago

At least in CA, if you opt out of COBRA, you can't opt back in later.

brianwawok6y ago

Hum. In IL and IN you have either 45 or 60 days to accept or decline coverage (don’t quote me on exact number, do the research). It made the optimal short term insurance policy to be:

Don’t fill out cobra paperwork to day 59

If not sick or total bills less than 2 months cobra payments, decline cobra.

If sick and total bills > 2 months cobra payments, decide to accept coverage.

Used this for like 5 job hops. Never had to opt in, but it seemed fine. Confirmed with HR several times that it would work as I said.

After 2 months it starts to get gross. Likely want to get an emergency only plan.

2 more replies

blendo6y ago

On my California Kaiser plan, COBRA was about 35% cheaper than the equivalent Covered California offering.

j / k navigate · click thread line to collapse

0 comments

11 comments · 3 top-level

hysan6y ago· 4 in thread

redisman6y ago

geerlingguy6y ago

An equivalent plan in my state (MO) is 2.5x more expensive (monthly), with a higher deductible and fewer available in-network providers :(

chris116y ago

PopeDotNinja6y ago

Pro-tip:. If you pay out of pocket for your regular doctor (maybe tell then your situation and work out a deal), you can get Medical to pay for the prescription (verify before trying).

1 more reply

malyk6y ago· 4 in thread

you don't have to pay for cobra until you need it though, so you could get out spending $0, iirc.

justin666y ago

masonic6y ago

For ACA, policies, the grace period is forever. Job loss is a "life event" that lets you jump in any time, not just an arbitrary open enrollment window.

1 more reply

mceachen6y ago

At least in CA, if you opt out of COBRA, you can't opt back in later.

brianwawok6y ago

Hum. In IL and IN you have either 45 or 60 days to accept or decline coverage (don’t quote me on exact number, do the research). It made the optimal short term insurance policy to be:

Don’t fill out cobra paperwork to day 59

If not sick or total bills less than 2 months cobra payments, decline cobra.

If sick and total bills > 2 months cobra payments, decide to accept coverage.

Used this for like 5 job hops. Never had to opt in, but it seemed fine. Confirmed with HR several times that it would work as I said.

After 2 months it starts to get gross. Likely want to get an emergency only plan.

2 more replies

blendo6y ago

On my California Kaiser plan, COBRA was about 35% cheaper than the equivalent Covered California offering.

j / k navigate · click thread line to collapse