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If your employer goes out of business - no more health plan - no Cobra - now what?
Old 08-02-2012, 04:27 PM   #1
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If your employer goes out of business - no more health plan - no Cobra - now what?

If you can't get on a Cobra plan because health insurance plan is no longer available, can you use HIPPA since HIPPA requires that you exhausted your Cobra coverage?

For people with pre-existing condition, how difficult is it to buy health insurance?
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Old 08-02-2012, 04:34 PM   #2
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It depends on state regulations. If the employer has a group policy and it is discontinued due to bankrupcy there may be a conversion policy option. That is where the insurance company lets you enroll in an individual policy even though you have preexisting conditions. It is still underwritten and may be pricey. You would have the same short window to convert, just like Cobra.
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Old 08-02-2012, 04:56 PM   #3
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Quote:
Originally Posted by Disappointed View Post
If you can't get on a Cobra plan because health insurance plan is no longer available, can you use HIPPA since HIPPA requires that you exhausted your Cobra coverage?

For people with pre-existing condition, how difficult is it to buy health insurance?
This from the document at the CMS.GOV site

https://www.cms.gov/Regulations-and-...y_Criteria.pdf

"if COBRA, state continuation coverage, or Federal Temporary Continuation
Coverage has been offered, a person must accept and exhaust it. Although an
individual may apply for HIPAA coverage before the termination of COBRA,
COBRA must be exhausted and then the new coverage will start"

I would interperet that to mean you have to use COBRA if it is available, if it is not then it is exhausted and you are HIPAA eligible. I would contact your state insurance commission to verify.

It's pretty much impossible to get insurance with pre-existing conditions. If you are over 50 it's hard to get even if you don't have any conditions.
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Old 08-02-2012, 10:48 PM   #4
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Warning - I'm no expert.
Some states (like mine) have a high-risk pool, but in this state at least it's quite pricey and is only good for disasters. On the other hand, if you have no other option (like me at the time), it's better than nothing. I found out this stuff by talking with a local insurance broker, tied to no particular insurance company, who researched it for me at no cost.
I don't even know if Obamacare has kicked in yet - it might help you out. I suggest you ask an insurance broker.
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