What happens after COBRA?

[simplelindasky]

When COBRA ends, is there any other federal plan available if you are too young for medicare unable to qualify for private insurance and work someplace that doesn't offer health insurance?

 

[cute fuzzy bunny]

I'm sure Martha will chime in, but it depends on what state you live in. Most (maybe all) have a 'state high risk pool' or a requirement for insurers to accept you at a fairly high rate. It'll be similar to or higher than your Cobra payments for the most part.

 

[Martha]

I suggest reading this FAQ: http://www.early-retirement.org/forums/f47/buying-private-health-insurance-30756.html

 

[simplelindasky]

Thank you for the information.

 

[september]

When COBRA ends, is there any other federal plan available if you are too young for medicare unable to qualify for private insurance and work someplace that doesn't offer health insurance?

If you were on a group olan before cobra, then you should be eligible to get private insurance under hipa . But since you said "unable to qualify", i guess that excludes you. In addition to the high rish pool others have mentioned, some states have "open enrollment" periods where they are REQUIRED to accept everyone (though i suppose it could be expensive).
And of course, there are the states that hve to accept everyone all the time (NY, NJ, VT, ......).

 

[huusom]

I have done extensive search in regard to this issue since my wife is currently on Cobra and she had cancer.

After Cobra, you are eligible for HIPAA (Health Insurance Portability and Accountability Act). This allows you to choose from 2 of your current insurance carrier most popular plans. They can not deny coverage even if you have an existing condition. However, since there is no limit on what they can charge for these plans, they can be very expensive. If you're over 50s, prepare to shell out about $1,200 to $1,500 for 2 peoples.

The state risk pools, if available, are very limited in and you may have to wait to get in. In California, there is a waiting period and they only cover a maximum of $75K lifetime limit and the monthly premium is as high as or even higher than HIPAA plans. The risk pools are good only for people who are rejected by the insurance industries.

I know it's sad for a country like ours to have such a terrible health care system. You can work and save all your life but if you lost your job and get sick then you're screwed. That is why 50 percent of personal bankruptcy are caused by medical problems.

 

[Martha]

I do talk about this a lot more in the FAQ I linked above, but to supplement what the prior poster says, states must, under federal law, provide an option for people who are HIPAA eligible and can't otherwise buy insurance because they are not insurable. Eligibility is described in the FAQ. The HIPAA option may be one or more plans offered in the state or the option may be a risk pool. The FAQ has links as to what is available in your state. However, if you are in good health you might be able to buy on the open market.

 

[Zoocat]

After my COBRA ended I began applying for individual health insurance. I considered myself in good health. After four denials of coverage I ended up with a policy from Great West here in CO but with several exclusions, one for all dematology due to a couple of basel cells. Just before I started to apply for insurance I found out I have high cholesterol, along with being overweight, I guess that made me a reject for some insurance companies.

My policy has a $2700 deductible (no coinsurance), $351/mo, $2 million lifetime maximum.