Medical Insurance and COBRA

[hoosier]

COBRA coverage will last only as long as the company is open and covering existing employees. Once it closes, coverage ends. At least that is the way it was when my husband's plant closed earlier this year.
So sorry you are going through this.

 

[On Our own]

Dh's company is closing this plant, but the company is not going out of business. Why they expect to clear 450 million in profit next year due to this little cost saving measure.

I did find that the measure was not in the bill that passed last night. We'll see.



But hey the depression diet works great! I've already lost two pounds!

 

[enjoy the ride]

This is a case where I would write my Congressman and Senator. They need to know that this is important to their constituents so they don't just drift along with other things.
Ask their offices to keep you informed of progress- you need updates to get information asap.
Does your hubby's health insurance end when he is laid off? Or can he use his severance to extend his termination date and thereby keep insurance for awhile?

BTW I hate the idea of laying people off with so little assistance. The employer should provide counsel on what benefits are available and people's best options, if they have any. That should be the very least they do. And that's not much.
There is, as far as I know, no special severance tax rate- it is based on a person's income for the year. If you husband receives it next year, you might have less in taxes to pay because your income is less.

Also, is there a union that you could turn to for information and help? They at least should be on your side.

It's good to hear your story as it's so easy to hear about these closings and let the new just wash over you.

Whenever I hear stats on soldier's death's for instance, I think of the pain and difficulties of the family left behind. Keeps things in perspective better. I want to understand the pain of people lossing their jobs too- so I can do what I can.

 

[FarmerChick]

COBRA coverage will last only as long as the company is open and covering existing employees. Once it closes, coverage ends. At least that is the way it was when my husband's plant closed earlier this year.
So sorry you are going through this.

I was sure COBRA meant it went into the "existing insurance carriers" problem at that point?

are you sure about this truly?

even if the company closes, I thought COBRA meant coverage of an existing carrier was in force.

 

[inchworm]

One option no one has mentioned is that you can go purchase your own temporary medical insurance. I have done it twice in my life. Granted, they have high deductibles so you will pay for most things out of pocket, but the insurance is there if you have a major medical event. Recently, I had to purchase temporary insurance for while dh was between jobs. I paid about $86 per month to cover a family of 4 with a $5k deductible through United Healthcare. Years ago, I did a similar deal for 6 months with the option to renew for another 6 months through Blue Cross Blue Shield. There are lots of these types of policies out there. They are an affordable way to insure against major medical bills.

 

[On Our own]

Thanks Inchworm. I was just starting to look into this to get coverage for just me and DH since the kids can get CHIP. We'll still have to pay some for CHIP, but it is way better than COBRA.

I just need to see if all of our doctors will accept either.

I already wrote my elected officials - all of them. Most of them hear from me on a regular basis anyway! I am a big believer in participatory democracy.

 

[Big Daddy]

You said you had a prior condition. I'm not asking what it is but is it something that requires regular doctor care?

 

[Big Daddy]

You said you had a prior condition. I'm not asking what it is but is it something that requires regular doctor care?

 

[On Our own]

No prob I have asthma and one other one which I won't talk about on an open forum that does not need regular care so much as maintenance meds.

I was also diagnosed with cancer over ten years ago and clearly and way past the survival rates but insurers don't like. I even once got denied a mortgage because I had had cancer. (No, that's not quite legal but you know they get away with it anywho.)

 

[Big Daddy]

I have asthma too. They have some fairly cheap generic inhalers. I take Advair to keep mine under control and that stuff is godawful expensive. You should be able to find a cheaper alternative. Before I started o Advair I was hitting the inhaler all the time. Now I hardly ever hit it except for when I get bronchitis or pneumonia. Fortunately I have a nebulizer if my chest gets real tight.