Posted on 08/04/2015 9:56:29 AM PDT by incredulous joe
Greetings Freeper Friends, I hope that someone might be able to help me out or guide me to a source where I might find answers.
A few years back, at the height of the economic turmoil, I had to do something drastic; I changed my career of some 20-plus years from a graphic designer and art director to a nurse's aide. It was a big move down the economic ladder. I did this because of the lack of the stability in my field; I could no longer recruit new clients and, when I did work for folks, I could not always be insured that I would be paid. These developments were new to my professional situation.
One of the other reasons that I sought work in this field was because, as a private business owner, I was struggling with the cost of health insurance. While my new job was a big slip down the career ladder, it provided steady check, job security and the health insurance which basically kept my family from losing everything.
Over the last few years, I have been working toward returning to school to become a nurse. Not something that I ever saw myself doing, but I am on my way. To date, I have studied PT, while remaining at my position FT to provide my family with healthcare, however, as I move forward into my clinical studies, I will need to become part-time.
I still wish to retain my healthcare plan, and heard that I can pay COBRA benefits to continue my coverage. Where can I get additional information about COBRA and how it works, when the benefits take over and how they compare to my current plan.
Thanks in advance for any advice that you may provide. FReepers have been an excellent and knowledgeable resource and have provided me with much encouragement as I have made these changes in my career. Thanks again. ~ Joseph
Hi Joe, I think the plan you can sign up for depends on the termination terms between you and your employer - plans available, term duration, etc. But if it helps, try this company’s FAQ on the matter.
https://www.proviewbenefits.com/support/COBRA-FAQ.html
Good luck!
Deadly, stay away. Get a mongoose,, or an 870.
call your insurance agent, they can get you the information.
Thanks. I will be resigning on good terms and will also remain on staff in a PT capacity through the year.
Good luck to you. I can’t advise you about COBRA, but I can say that I think you’ve gone into a good profession for times of economic turmoil.
One of my daughters was in a position where she needed to get a job to help her husband pay the costs of a house and two kids. She put herself through nursing school, while working full time cleaning houses and the like, then continued up the ladder while working full time at nursing, mostly elderly care. Now she’s one of the most respected nurses at a good hospital.
She is extraordinary. But it does go to show that it’s possible to do it, if you really work at it.
I actually saw that one coming.
The first place I would check is with your current company, from whom you will be purchasing the COBRA. Either your HR person or the company’s third-party COBRA administrators should have information for you, including the cost (which will be based on the company’s options...you won’t find that on the Internet).
I have never seen COBRA hold a candle to a deal you can get in the private market.
You should be starting your search from looking at what the market provides — and cast a wide net and do your homework...THEN compare to COBRA.
The 3-5 times I have done this for family members, it’s a no-contest - COBRA is 2-3x the cost of what I can get.
Expection: let’s say you are fired and you have a pre-existing condition that is a money sink...COBRA then makes sense....That’s why it’s so HIGH!
BFL
Hi Joe,
Last time I checked, COBRA is a pretty tough option. You basically will have to pay the full cost of your portion (if you are paying now) plus the full cost of your employers share. So your total cost would be probably a lot more than you ever thought it could be.
The good news is with Obama care, you don’t need insurance. Just wait till you get sick, then buy it. Just pay for all the small stuff in cash at those minute-clinics.
I used it once in between jobs for a month or two until I met the coverage longevity requirements. You’re entitled to 18 months coverage, but it is pricey. As I recall you basically had to pay both your and your employer’s monthly part. In my estimation, it is stop gap on the way to a clearly defined start point under another policy. I know I couldn’t have maintained the cost for 18 months.
I thought COBRA was too expensive.
I don’t know. I got into the profession for all of the right reasons ~ aside from the stated need for employment and healthcare ~ I wanted to make a difference. I want to help people.
I come from an art background and was a little sketchy on the sciences, but I have studied hard and performed very well. I have to say that I am surprised at the level of incompetence and the amount of negligence in my particular field. I work in long-term care. And, while this field grows with an aging population and has a need to become more flexible to serve the public, it has actually become more regulated and restrictive and cumbersome. I think this will have to change, either by choice or as a matter of economic physics.
God bless your daughter for her hard work. It is surprising what we can do when we put out minds to it. I have been blessed with good health and a strong foundation in my education and a stubborn Irish will!
Hmm? Not goo, but sort of what I had heard.
I have never taken anything from the government. A friend of mine told me that we probably are eligible for medical assistance through a state program.
Do you know if it may be possible to block out a portion of my bennies with COBRA; 2 of my children are in braces. I’d like to retain this if I can’t hold onto the medical.
I was a benefits administrator, among other roles, for years. Your employer is required by law to give you a contra notice is you lose insurance.
Bad guys, just ask your brother G.I.
Thanks. That makes good sense with everything else in this thread. I was thinking private might be the way to go.
I guess that I don’t understand the nature of your acronym?
In my case, COBRA is expensive, but the private options were just as expensive, so I stayed with COBRA. I can do so until Medicare, next year. Biggest expense outside of COBRA payments is dental, which even under Medicare, my own.
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