Individual health insurance in ER question

[wanaberetiree]

I have 20k per year budgeted for medical costs (HI, copays, other out of pocket) for DH and I combined. As crazy as it sounds, I'd take the $893 per month in a heartbeat and be extremely happy !

+1

 

[Mulligan]

I have 20k per year budgeted for medical costs (HI, copays, other out of pocket) for DH and I combined. As crazy as it sounds, I'd take the $893 per month in a heartbeat and be extremely happy !

My GF just got a new job and her health insurance coverage is from 1980s. $100 max hospitalization deductible, $10 office co-pays and $10 script. Can put spouse on for around $200 a month. I think she needs to propose to me and not quit her job until I die!

 

[Alan]

My GF just got a new job and her health insurance coverage is from 1980s. $100 max hospitalization deductible, $10 office co-pays and $10 script. Can put spouse on for around $200 a month. I think she needs to propose to me and not quit her job until I die!

For those benefits I wouldn't wait for her to propose to you, I'd be the one making the moves

 

[Mulligan]

For those benefits I wouldn't wait for her to propose to you, I'd be the one making the moves

What is funny, Alan, was I always had to listen to her anti union "rants". Now that she is suddenly benefitting from their benefits her memory has gone bad all the sudden.

 

[Alan]

What is funny, Alan, was I always had to listen to her anti union "rants". Now that she is suddenly benefitting from their benefits her memory has gone bad all the sudden.

 

[MichaelB]

Well you need to check. I remember when DH retired he went from the rate employees pay for family coverage to the subsidized retiree rate which was a lot less than the COBRA rate. For an individual and spouse for example the rates were something like this for individual coverage monthly:

Employee rate - $95
Subsidized retiree - $359
COBRA or unsubsidized retiree - $893

So, COBRA coverage was a lot, lot, lot more expensive than the employee rate or the subsidized retiree rate.

+1
Cobra entitles the policyholder to continue with the same coverage for 18 months but paying the full, unsubsidized rate plus and additional 2%. Some businesses may offer better terms but that is entirely voluntary on their part.

 

[Live And Learn]

My GF just got a new job and her health insurance coverage is from 1980s. $100 max hospitalization deductible, $10 office co-pays and $10 script. Can put spouse on for around $200 a month. I think she needs to propose to me and not quit her job until I die!

Oh come on - where's the justice ! ? Your HI costs are low, hers are low and mine is going to be more than most peoples mortgages !

(PS: I agree with Alan ! get moving )

 

[rbmrtn]

I suppose you have already considered this, but I didn't see it mentioned. If you have pre-existing condistions the chances of purchasing individual health insurance is slim to none. You can't purchase it at any price because they will not sell it to you, or if they do it come with riders and exclusions for the very thing you need the insurance for.

This is where COBRA comes in. If you take COBRA, use it up, you then become HIPAA eligible which you are guaranteed the right to purcahse a HI policy. What that is varies between states. It can be the state risk pool or a conversion policy etc.

If you don't use COBRA then you loose the HIPAA protection. For a family coming off a highly subsidized, low dectuctible "cadillac" plan then it is very expensive. But for single coming from high deductible plan to start with it's much better than fighting the insurance companies ( you can't win ).

 

[Live And Learn]

I suppose you have already considered this, but I didn't see it mentioned. If you have pre-existing condistions the chances of purchasing individual health insurance is slim to none. You can't purchase it at any price because they will not sell it to you, or if they do it come with riders and exclusions for the very thing you need the insurance for.

This is where COBRA comes in. If you take COBRA, use it up, you then become HIPAA eligible which you are guaranteed the right to purcahse a HI policy. What that is varies between states. It can be the state risk pool or a conversion policy etc.

If you don't use COBRA then you loose the HIPAA protection. For a family coming off a highly subsidized, low dectuctible "cadillac" plan then it is very expensive. But for single coming from high deductible plan to start with it's much better than fighting the insurance companies ( you can't win ).

Thank you for this. I did know this but it was somewhere in the back of my mind rather than right up front where it belongs.