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  1. #1
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    Health Insurance question

    So today was my last day at my job, and I start up with another on Monday. My insurance with the new company will start up the first of November and I thought that my current insurance would go to the end of the month but found out in my exit interview that it ends today.
    Is this common? I always thought you had until the end of the month.



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    Re: Health Insurance question

    It depends on when they pay your insurance premiums. Sometimes this is monthly or bimonthly.

    If you are really worried you could get COBRA to cover you but it is kind of pricey because your previous employer won't pay their part of the premiums anymore and you will have to pay the entire amount.



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    Re: Health Insurance question

    Quote Originally Posted by MNclone View Post
    So today was my last day at my job, and I start up with another on Monday. My insurance with the new company will start up the first of November and I thought that my current insurance would go to the end of the month but found out in my exit interview that it ends today.
    Is this common? I always thought you had until the end of the month.
    Yep. It's pretty common for employer to drop you from the group insurance plan as soon as your employment is terminated.

    You can always go COBRA route, but they are pretty pricey (somewhere in the range of 400-500 a month even if you are healthy).



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    Re: Health Insurance question

    I am sure we will be fine. The unfortunate thing is that I cashed out 3 weeks of vacation, so I easily could have pushed it out if I knew.
    My wife is kinda freaking out about it. We have a son with special needs, and she is afraid that an insurance gap will screw with some of his programs.



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    Re: Health Insurance question

    COBRA is kind of messed up. You have up to 60 days to continue coverage. Basically you can do nothing for 60 days if at 60 days you decide you want you can pay the back preimums and they will cover everything. Since it you new stuff starts on nov 1 I wouldnt do anything if you dont need it. If you do need it you can always go back and activate the cobra. Its complicated ****. I have no real idea but this what I have read. Good luck. Use Google!



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    Re: Health Insurance question

    Quote Originally Posted by MNclone View Post
    I am sure we will be fine. The unfortunate thing is that I cashed out 3 weeks of vacation, so I easily could have pushed it out if I knew.
    My wife is kinda freaking out about it. We have a son with special needs, and she is afraid that an insurance gap will screw with some of his programs.
    You will be fine. 10 day coverage gap is not an issue. Should something catatrophic happen, you have the option (and plenty of time) to sign up for one month of COBRA coverage. If you incur any claims less than the cost of one month of family premiums you just pay those out of your pocket. If something major, sign up for COBRA for one month.


    CycloneTom

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    Re: Health Insurance question

    ^^^ What he said.



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    Re: Health Insurance question

    Quote Originally Posted by CySmitty View Post
    COBRA is kind of messed up. You have up to 60 days to continue coverage. Basically you can do nothing for 60 days if at 60 days you decide you want you can pay the back preimums and they will cover everything. Since it you new stuff starts on nov 1 I wouldnt do anything if you dont need it. If you do need it you can always go back and activate the cobra. Its complicated ****. I have no real idea but this what I have read. Good luck. Use Google!
    Key point, they cover everything from when you pay the premiums, they won't retroactively cover anything.

    You might pick up a gap policy for cheap just for catastrophic case, cobra shouldn't be that much if you can foot it tbh.


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  9. #9
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    Re: Health Insurance question

    Quote Originally Posted by CySmitty View Post
    COBRA is kind of messed up. You have up to 60 days to continue coverage. Basically you can do nothing for 60 days if at 60 days you decide you want you can pay the back preimums and they will cover everything. Since it you new stuff starts on nov 1 I wouldnt do anything if you dont need it. If you do need it you can always go back and activate the cobra. Its complicated ****. I have no real idea but this what I have read. Good luck. Use Google!
    You are correct Sir. It's kind a sweet deal really. You don't pay a premium unless you need the coverage and then it is expensive.



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    Re: Health Insurance question

    MOVE HERE

    <<<


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    Re: Health Insurance question

    ^^^ Then come down here when you really need health care?



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    Re: Health Insurance question

    Quote Originally Posted by CanadaClone View Post
    MOVE HERE

    <<<

    I believe this is posted in the wrong thread. I think you were trying to post in the "what is the absolute dumbest thing I could do?" thread. When are you going to start driving on the right side of the road? (side question: does that change right at the border, or is there like a transition zone?)



    We americans can say that type of stuff because all y'all Canadians are so nice.

    In closing, it's "Zee" and it's called a napkin. Stupid "Zed" and "serviette".

    actual, real here. Canada's kind of like a family member, we can enjoy making **** out of each other, but don't nobody else **** with them.



  13. #13
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    Re: Health Insurance question

    Quote Originally Posted by simply1 View Post
    Key point, they cover everything from when you pay the premiums, they won't retroactively cover anything.

    You might pick up a gap policy for cheap just for catastrophic case, and cobra shouldn't be that much if you can foot it tbh.
    I am under the impression that they will retroactively cover you as long as you sign up within the 60 day eligibility period and pay the back premiums.

    Edit: I think that has to be correct because you usually don't get the COBRA paperwork until after you've left and I know you can pick it up without having a gap in coverage.


    Last edited by azepp; 10-20-2012 at 08:51 AM.

  14. #14
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    Re: Health Insurance question

    You can also get short-term coverage from Blue Cross Blue Shield. It's cheap, fills the gap and you can do it all online. That's what I did when I left my job last summer and was waiting to jump on my fiances plan.



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    Re: Health Insurance question

    Quote Originally Posted by simply1 View Post
    Key point, they cover everything from when you pay the premiums, they won't retroactively cover anything. You might pick up a gap policy for cheap just for catastrophic case, cobra shouldn't be that much if you can foot it tbh.
    They do cover retroactively that's whats so sweet about it. You have 60 days to elect the coverage and the coverage go back until the day you lost your insurance. Its actually a pretty sweet/****ed up system. Heres a decent summary of COBRA. COBRA and Retroactive Health Insurance Coverage My Money Blog



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