Question:
Does anybody know what a Cobra Plan means?
I got approved for surgery today and my dh company might switch carriers effective Jan. 1. Somebody suggested to get a Cobra plan, what is it? — blank first name B. (posted on December 4, 2001)
December 4, 2001
Hi Kimberly. With Cobra, when an insurance plan ends, you continue that
plan by paying your monthly premiums after he leaves his job yourself. Its
good in many ways: for preexisting conditions and in this case
pre-approvals; for people who must wait a few months to go onto new
insurance so you don't have a lapse in coverage. It can be costly though
so if your husband will have immediate new coverage, you might check into
cobra just for you. He should ask his human resources or benefits person
at work about cobra benefits and they'll get the info for you. Good luck!
— AJC750
December 4, 2001
Hi Kimberly, before electing COBRA (because as mentioned, it can be very
expensive)check with your HR group, if they are just changing carriers you
may not be eligible for COBRA, and if there is no lapse in coverage the new
carrier can not hold you to a pre existing exclusion period (check out the
HIPPA law (Health Insruance Portability Act).
— Nene B.
December 4, 2001
When I was pregnant with my son, my company switched insurance carriers 2
weeks before my son was born. The new company did not include my OB/GYN and
I wasn't willing to change doctors that close to delivery. So, I kept my
old insurance on a Cobra Plan, it cost me about three times what I had paid
monthly before, but it was worth it. Your DH can contact his benefits
department and you can get an idea of how much money it would cost you.
— Shana C.
March 31, 2002
COBRA is a plan to continue coverage under your current insurer. Mine cost
me $467 per month for my husband and myself. Any deductable that has been
met at the time has to be honored and any pre-existing conditions are
covered. This was part of Ex-President Clinton's health care package.
— Kathy L. H.
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