Medical Insurance and COBRA

[Big Daddy]

That's one of the things wrong with the system. In order to be covered by medical, you have to be pregnant. So the system requires you to keep bringing more children in to the system in order for you to be insured. Before Clinton changed it they used to pay additional welfare to women based on how many kids they had. Good reason to keep a loaf in the oven year round. Something is wrong with that picture. Staying healthy so you can raise your children should be sufficient reason to be covered.

JMO

 

[PamsPride]

When DH lost his job he got a lump sum severence but it was so many weeks based on the amount of years he worked so he could not collect unemployment until those weeks ran out...13 weeks.
I found out I was pregnant THE DAY AFTER he got his lay off notice! We figured it was cheaper to pay outright for medical bills than pay the $800 a month for COBRA. We could not qualify for medical assistance because he got a lump sum payment.
Thankfully DH found a job and was only off for 20 days.

Hopefully your DH can find a job quickly or enjoy his time at home!

 

[2dream]

Based on a Cobra question I just had to have answered for a former employee. Your husbands employer will have to pay 65% of your Cobra insurance. Mandated as I understand it by our current administration to help in this time of recession.
Your husband will only have a very short window of time to fill out the proper paperwork. So make sure he ask his HR department for that paperwork NOW. These benefits should last for (depending upon your state and location) up to 18 months. This applies to layoffs only. On the paperwork there is a highlighted area on the back of the 1st page. Make sure the proper box is checked and the proper date is filled in.

No wonder the the Company is trying to work out something with the Union. Depending upon the # of employees being laid off they will be paying out big sums of money. All tax deductable by them of course.

Hang in there. This too shall pass.

 

[Big Daddy]

That's excellent. Google cobra 65 percent subsidy. It takes you to the Govt website.

 

[FarmerChick]

wow 2dream
I did not know that

excellent information and thanks BD--now I know and wrote that down, just in case!!!!

 

[On Our own]

Sorry to rain on the parade y'all but the benefit of the gov't paying the 65% (or forcing the company to) ends Dec 31. Officially, they are not laid off until Jan 22.

I am looking to see if there are any extensions. Does anyone know if the date is being extended? The last thing I could find still had the ending date of Dec 31 2009.

We won't qualify but thanks for the tips all!!!



Edited to add:

The American Recovery and Reinvestment Act of 2009 (ARRA) provides for premium reductions and additional election opportunities for health benefits under the Consolidated Omnibus Budget Reconciliation Act of 1985, commonly called COBRA. Eligible individuals pay only 35 percent of their COBRA premiums and the remaining 65 percent is reimbursed to the coverage provider through a tax credit. The premium reduction applies to periods of health coverage beginning on or after February 17, 2009 and lasts for up to nine months for those eligible for COBRA during the period beginning September 1, 2008 and ending December 31, 2009 due to an involuntary termination of employment that occurred during that period. The TAA Health Coverage Improvement Act of 2009, enacted as part of ARRA, also made changes with regard to COBRA continuation coverage.

 

[2dream]

9 Months only. Oh man, I have to call our insurance company 1st thing Monday morning. They told me all that stuff over the phone so I relayed all the info to the employee. I was told 12 months with employee paying 100% for voluntary quit and up to 18 months with the employee paying 35% and the company paying 65% for layoffs.
Glad he quit and I don't have to back track.

 

[FarmerChick]

Ahh that just stinks.

Maybe they will extend it along with the unemployment etc. that has been extended.

I would think this would need an extension...not like everyone gets laid off the same time limit as a bene from the govt--lol

shoot, something that might help and it will be gone....usual!

 

[On Our own]

I just found out that there is an extension bill in process but it is sitting in committee.

They are (were?) hoping to roll it into the health care bill.....


stay tuned

 

[Big Daddy]

They'll extend it just like they did the unemployment insurance. You just have some hack politicians trying to show the can be merciless. Same thing happened on the unemployment extension.