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COBRA question.
Old 10-29-2014, 03:23 PM   #1
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COBRA question.

I'm currently using COBRA insurance for myself, my husband, and my two tweener kids. My tentative plan is to switch to an ACA plan (via CoveredCA) for the coming year.)

That said - I expected to get something announcing premium changes for the COBRA policy for 2015... October is traditionally open enrollment for my former employer. I assume an increase because... well... insurance always increases. LOL. I'd like to have this info when I compare plans and figure out if I'm switching to an ACA policy or not.

How do they notify you of increases in premiums under COBRA?
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Old 10-29-2014, 04:55 PM   #2
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Just had a similar question last week. I called my administrator (CONEXIS) and they told me they did not have the contract to distribute the open enrollment materials for my plan (they do this for other plans). I spoke with my former employer's benefits department and they said COBRA open enrollment would be later this year, after employee enrollment. No COBRA rates were available yet.
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Old 10-29-2014, 06:44 PM   #3
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I got a letter about open enrollment for COBRA , for me is the same for active employees. The letter did not have rate info, so I had to do a little digging to get the rates, in advance of official announcement. ACA plans will likely cost you less , even without a subsidy.

In my situation, I will switch to the subsidized retiree medical early in 2015. Otherwise I would switch to an ACA plan.
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Old 10-31-2014, 09:51 PM   #4
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Quote:
Originally Posted by rodi View Post
I'm currently using COBRA insurance for myself, my husband, and my two tweener kids. My tentative plan is to switch to an ACA plan (via CoveredCA) for the coming year.)

That said - I expected to get something announcing premium changes for the COBRA policy for 2015... October is traditionally open enrollment for my former employer. I assume an increase because... well... insurance always increases. LOL. I'd like to have this info when I compare plans and figure out if I'm switching to an ACA policy or not.

How do they notify you of increases in premiums under COBRA?
I just today got a letter from DH's megacorp about my retiree spousal insurance (it ended for DH when he aged into medicare but coverage was continued for spouses who wanted to move to COBRA, for 36 months max).

It went up from $926 to $983 for just one person.

The letter suggested looking into ACA.
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Small gap in coverage
Old 12-08-2014, 02:27 PM   #5
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Small gap in coverage

So here's a COBRA question for the board. My last day of work was Friday, June 28'th, 2013. My 18 months are up on December 29'th, 2014. That leaves me the 30'th and 31'st as uncovered, until my new ACA coverage starts. Are there any options other than sitting tight and being extra careful?
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Old 12-08-2014, 06:41 PM   #6
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My COBRA option was for $614 a month, single male 49 yo.
The closest plan on the exchange was a platinum policy at $574, with subsidy will be $378. Plan to drop to Medicaid when income drops mid-year 2015.
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Old 12-08-2014, 06:53 PM   #7
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I just had a brainstorm. Why not do a Roth conversion in January to fill the 15% bracket, then in subsequent months drop to Medicaid? Since Medicaid is monthly based income and the exchange is yearly based this should be possible. Also Medicaid has no open enrollment period.

This solves most of the problem of loosing subsidy due to increased income, since the January premium is the only premium that will go up due to increased income and loss of subsidy. All other months are free under Medicaid. This is sounds like the plan for 2016.
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