Who doesn't have health insurance?

Kendro

Kendro

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A few months back my entire department received word that we will be laid off by 2013. Luckily I got something lined up and start at my new company in June. The only problem is that the first 6 months will be contractual work as a consultant, and will convert to perm.

I currently get $80 a month taken out of my pay for health insurance. My company kicks in the rest. I don't have the slightest clue when it comes to health insurance and apparently private health insurance can cost anywhere from $500 to $1000 a month.

Apparently I qualify for something called COBRA where I can continue on with my current insurance but instead of paying the employee rate of $80 a month, I'll have to fork over $250 (which is still cheap compared to $500).

I haven't been to a doctor in 10 years and never had any health problems (knock on wood). I'm wondering if I should go commando for 6 months, save roughly $1500 and continue with the coverage after I get hired perm. But I really don't like the idea of getting into some sort of accident in 3 months and having my entire savings wiped out by a hospital bill.

What would everyone else do in my situation? Does anyone not have health insurance? By the way I am single and have no kids.
 
I've never heard of COBRA coverage being so much more expensive. I've used it a few times but paid 102% compared to 100% of what I was previously paying: the additional 2% was to cover admin fees since I was no longer an employee. I've only regretted not having insurance once and right now I am in between jobs and am not covered. It's a real crap shoot though because nobody needs insurance until they need insurance. I think you'll be fine for 6 months though.
 
I too was laid off and had Cobra and was paying about the same price that I was when I was employed. It got extended thanks to Obama for a few more months then it ran out. I was without insurance for 10 months before I was picked up to full time again. Yeah your employer has to continue paying out their part for several months according to the new laws so it should be about the same but not more.
 
I did some more reading up on it and apparently it is 102% of the total cost. So if I pay $80 and my company kicks in $320, technically the actual amount the insurance company gets is $400 so I would be paying $408.

ITDEFX, are you sure my employer still has to kick in?
 
While I do have health insurance, I would look around to see if there is a GI JOE health insurance alternative to COBRA, myself. Heh. All I can think of now is a remake of the cartoon featuring rival health corporations fighting it out with red and blue lasers. As well as "knowing is half the battle" slogans being thrown around on television in hopes of winning over converts.
 
I think it depends on the employer, if they chip in or not. My last employer provided group coverage for employees but paid 0% of the premium, and the employee paid 100%, so for me it was much less expensive to get a private plan.

Might want to read up on COBRA, never been in a situation where I needed it.

It was pretty much cheaper to have a private plan until I got my Federal employee insurance.
 
Look into a state-run health insurance program.

Oh, and every state has different requirements for COBRA and it also depends on the group policy that your employer purchased.
 
health insurance is for people with kids or alot of money. I've been out of my parents health plans for years now and ive never gotten any replacement coverage.

Be careful, especially on the road
Keep interactions with other people to a minimum especially where alcohol is around
and keep your body in keen physical shape

your gunna die anyway, why the hell would you pay monthly for it?
 
I went without it for awhile in college, because COBRA was going to be over $400 a month, when I paid nothing as a TA. And of course, I got salmonella or whatever that summer was with the infected serano peppers from Mexico, and had problems for a month. Only good thing was my school had a thing where they just told me to pay like $40 or something for the summer that day, and I could see the registered nurse on staff.

Before that, I had gone with a health insurance that only covered emergencies, and it was around $110 a month. Might have had a deductible of like $3000 or $5000 or something. That's probably the one you want to look into, so you don't risk wiping out your savings if something major comes up.
 
[quote name='mrspicytacoman']health insurance is for people with kids or alot of money. I've been out of my parents health plans for years now and ive never gotten any replacement coverage.

Be careful, especially on the road
Keep interactions with other people to a minimum especially where alcohol is around
and keep your body in keen physical shape

your gunna die anyway, why the hell would you pay monthly for it?[/QUOTE]

Because shit happens.

Like when you're looking both ways before proceeding through an intersection but someone rear ends you out of no where and injures you and they don't have car insurance nor any assets so you're SOL.

Not everyone can hide from the world. What if you wipe out while mountain biking or something and break a bone? Insurance would sure be nice then.

What if you're keeping your body in peak physical shape but you tear your ACL playing basketball in the gym?

Shit happens. Some people prefer to be covered if possible and keep away from death's door as long as possible.
 
[quote name='crushtopher']I've never heard of COBRA coverage being so much more expensive. I've used it a few times but paid 102% compared to 100% of what I was previously paying: the additional 2% was to cover admin fees since I was no longer an employee. I've only regretted not having insurance once and right now I am in between jobs and am not covered. It's a real crap shoot though because nobody needs insurance until they need insurance. I think you'll be fine for 6 months though.[/QUOTE]


such a misconception of what COBRA is. It is literally the full charge of what your employer was paying, with an optional 2% administration charge.

Thats all it is.

So if cobra is 250 for the OP that is the full cost they were paying for him. each sate has its own rules on individual and group mandates, so individual may vary a lot or a little from what group offers, etc.

If your a single guy and the group was getting it for 250 (we still down know anything about that plan or if it is any good) you should be in the 100-600 range. Obviously if you have health conditions then you can get rated up for that exposure as well.


Bottom line call a local agent in your area that specializes it. It costs you NO more to go to a local agent. you either have an internal agent at the company on that companies payroll, or you have an individual agent that makes commission on your sale, and has your interest as a priority.

I have been a life and health agent for over 10 years. I didn't even look at your state, but don't call an out of state guy call someone local that knows what carriers provide coverage at your hospitals and doctors you will go to.

Good luck.



[quote name='burritoman']I think it depends on the employer, if they chip in or not. My last employer provided group coverage for employees but paid 0% of the premium, and the employee paid 100%, so for me it was much less expensive to get a private plan.

Might want to read up on COBRA, never been in a situation where I needed it.

It was pretty much cheaper to have a private plan until I got my Federal employee insurance.[/QUOTE]

And thats illegal as well, I do believe. There are requirements (at least in the 4 states I write in) that the employer pays a certain percentage of the premium. Now does that always happen? Of course not I can name many groups that pass on 100% to the employees... if someone blew the whistle would they be in trouble.. damn right. Call the local Office of Financial Insurance regulation or similar body if you want raise a stink.. now the business owners I have talked to about this basically tell me that if they have to pay 50% of the single rate (not required to pay any portion for dependents) that they would just stop offering coverage.. thats fine and dandy but a lot of the business owners are getting better coverage by setting it up through their business then they can get individually... so take that for what its worth.
 
I hadn't seen a doctor for check-ups in more than 10 years since I was around 12 y.o. when my parents stopped caring enough to bring me to one. Now that I've had health insurance again for a few years I worry what can happen without it.
 
No health insurance here, I don't even qualify for state (welfare) health insurance because I live at home and my folks earn about $500 too much per year.
 
[quote name='praxus07']No health insurance here, I don't even qualify for state (welfare) health insurance because I live at home and my folks earn about $500 too much per year.[/QUOTE]

That's politicians for you: "Just ask your parents for money."
 
[quote name='mrspicytacoman']health insurance is for people with kids or alot of money. I've been out of my parents health plans for years now and ive never gotten any replacement coverage.

Be careful, especially on the road
Keep interactions with other people to a minimum especially where alcohol is around
and keep your body in keen physical shape

your gunna die anyway, why the hell would you pay monthly for it?[/QUOTE]

Not having HI for those reasons is a piss poor financial (and health) decision that that not only has a chance to bankrupt you for the rest of your life, but will also send you to an early grave.

The road? It's not about you being careful, it's about other people. Which you have no control of. Keep interactions to a minimum? lol not going to go into this

Keep your body in keen physical shape? You know you can develop just as much, if not more doctor related bills by the side effects of staying in shape. (which is totally worth it, BTW)
 
With COBRA, keep in mind that its also the exact same as what you were having thru your employer. I was on COBRA for about 16 months after I got canned from Panasonic. Yeah, its expensive, but if the coverage is bomb ass great, stay with it. But at the same time, you can only buy into it for a set amount of time.
 
I've had insurance for years and used it only a few times to get pain pills when I hurt myself (flipping around, etc.). Really expensive if you don't have something connected with work. Just try not to do anything dangerous or risky for that half year. I'm sure you'd be okay and you can save that money for something else.
 
[quote name='62t']60% bankruptcy are cost by medical bills.[/QUOTE]

Yep, definitely pay for the insurance if you can afford it.

You never know when a serious illness or injury will happen and it can wreck you financially if you're not covered.

[quote name='mr_burnzz']Just try not to do anything dangerous or risky for that half year. I'm sure you'd be okay and you can save that money for something else.[/QUOTE]

It just doesn't work that way. Most injuries aren't from doing anything dangerous but just common things like car accidents, slipping down stairs and so on. And of course there's not much you can do about illness as you never know when you'll get hit with cancer or anything serious--lower odds if you're young and healthy, but even young healthy people come down with serious illnesses.

If you're broke and can't afford COBRA or whatever, then there's not much you can do. But if you can afford it, go for it as it's never worth taking the risks inherent in being uninsured unless you just have no choice in the matter.
 
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[quote name='chiwii']If you're young and healthy, check into getting an individual plan. The rates could be significantly less than Cobra.[/QUOTE]
They tend to be cheaper because their coverage is minimal with high deductibles.
 
[quote name='crunchb3rry']I don't have health insurance. You basically just have to rub some 'tussin on it and hope you get better.[/QUOTE]

Nah dude, windex is where it's at.
 
Definitely look into state. My current job has no insurance but I was able to get on a state one which is very very affordable. You wont be covered on everything but the vastmajority of anything you need will be covered.
 
Again call the local agent spend a little time to learn from a pro in your area.

There is also a thing called temporary insurance.. even more cheap, and covers major claims and stops a potential brankruptcy..

The catch is typically you elect ahead of time how long you want the coverage for, for up to 6 month increments. Most carriers after 6 months will let you renew 1 additional time..

You can still pay month to month with those, and they wont cover office visits or outpatient prescriptions, but do cover major medical issues. Typically these have a $5000+ deductible, but thats better than the bills should you get them.

What state are you in?
 
I am in the same boat, except my period of being uninsured is a lot less. I should get insured in a month or so. I should have continued my Cobra when I lost my job. I didn't because I assumed I would be on another job sooner than later, which happened... though got myself in the same scenario, working contractually until a date when I am fully employed (i.e. no benefits until non-contract employee). Now, if I want my Cobra I have to back pay, which I can't afford to do (i.e. too costly). Individual plans I have seen out there to me are almost worthless. They require you to meet a $3000+ deductible before coverage.

If you can afford it, take the Cobra. You never know when an emergency happens i.e. appendix rupture, car crash, and other things you can't control.
 
My only two cents would be if you had a preexisting condition aka diabetic then cobra would get you out of any clauses in your new insurance but it sounds like your OK so i would wait it out.
 
[quote name='Snake2715']Again call the local agent spend a little time to learn from a pro in your area.

There is also a thing called temporary insurance.. even more cheap, and covers major claims and stops a potential brankruptcy..

The catch is typically you elect ahead of time how long you want the coverage for, for up to 6 month increments. Most carriers after 6 months will let you renew 1 additional time..

You can still pay month to month with those, and they wont cover office visits or outpatient prescriptions, but do cover major medical issues. Typically these have a $5000+ deductible, but thats better than the bills should you get them.

What state are you in?[/QUOTE]

I'm in NY. I currently have a plan called PPO 80 with United Healthcare.

By the way, everyone has officially scared the shit outta me regarding financial ruin. I think I'm gonna definitely fork over for health insurance just to protect my savings.

I tried doing one of those free quotes on Empire Blue Cross and it quoted me around $180 a month. I don't know much about health insurance but it seemed like it excluded a lot of stuff.

I'm thinking of sticking with my PPO 80 and using COBRA for $250 a month since it is $70 more but includes a ton of shit.
 
Blue Cross is typically more expensive in a lot of states.. while all technically different companies in each state, they work together to form a large carrier when crossing state lines with regard to network coverage/discounts, etc.

With that being said I do know that given their tax exempt status in a few states (not following them in states I dont work in) they are required to not exclude anyone from coverage... therefore their individual plans can be more costly as they take everyone and dont rate for medical conditions.. their base rate is just higher.

Again I would spend 15-20 minuts calling a local agent. Hit up YELP, etc and find a local health agent.

Give them your scenario and see what they can come up with, if nothing else it will give you an option.

However for $250 a month thats not terrible..

Another thing with COBRA.. as a poster before mentioned he has to go back for coverage... a little trick is to read that COBRA letter carefully... typically you have 90 days to decide and then if you want the coverage you pay back to the day you left BUT you get coverage back to the day you left...

I sometimes advise people that think they may be out of a job for only 30-60 days to wait it out.. if they get into a health issue they can always activate the cobra, pay back to the termination date, and have retro coverage back to prior to the medical issue.

This scenario works great, unless you are incapacitated, etc.

Just a thought.


*Also when I say local agent, I dont mean someone at Blue Cross. I mean a local indpendant agent that has multiple carriers at their disposal. I dont write in NY, but I have access to close to 15 individual carriers I can use depending on location and what the person is looking for.
 
I'm uninsured right now, but am definitely looking into it. I'm also slightly overweight, but have been actively losing weight for the past few months. I'm 25 and don't have any pre-existing conditions...

Should I wait another few months to buy a plan after I lose some more weight, or just bite the bullet knowing that my extra weight won't drive up the cost too much?

If I buy a plan but get into shape, is it easy to re-evaluate your physical condition and lower your costs?
 
[quote name='confoosious']You'd have to be an idiot not to even have catastrophic health insurance.[/QUOTE]

Agreed. Shit happens, shit that you have no control over.

I have health insurance, not employer sponsored because as a small business owner, I'm technically self employed. It mainly covers catastrophic accidents and illnesses, and has no maternity coverage. For years people told me it was stupid to pay for such a thing, because I was "healthy and had no kids."

Then one day on the way home from work some idiot turned down the wrong side of the street and hit me head on, totaled my car, shattering one of my legs from the knee down. The medical bills from such an accident were stupendous and I needed corrective surgery done on my leg and knee in order to even be able to walk again, the majority of which was covered by my insurance.

Also, remember this people--emergency rooms are only legally obligated to treat you to the point of stabilization, and then they will boot you out onto the street or shuffle you somewhere else. All the local surgeons in my area made it quite clear that they would not operate until they had everything cleared with their billing department...i.e., no health insurance, no surgery. So basically, if I had no health insurance I would have probably been left stuck in a wheelchair for the rest of my life (or at least until I could come up with the money to cover $150K in medical bills).
 
OP, if you don't have continuing health insurance, some providers will have issues with picking it up from not having previous coverage. They may require some rather in-depth physicals to make sure you're healthy and not going to cost them a boatload of money for some pre-existing condition or other issue like obesity, smoking or the like.

The easiest thing to do is to continue your existing coverage with COBRA and suck up the costs in the meantime. You won't have to change providers, it'll continue with the same coverage you have now and it'll make it seamless when you pick up new coverage with your new employer in June.

Just everyone has COBRA as an option when they leave the company through other means than quitting, so I'm not surprised you have it as an option. It's insurance, like car insurance, and you pay it for the times you have to use it and not get bent over the barrel for out-of-pocket costs.

I would say that finding other coverage in the short-term may be more expensive and it may be worse coverage than what you have now. Even if you have nothing happen to you between now and the time you can pick up your next coverage with your next employer, it'll be far more than $1500 if something major happens and you're forced to pay out-of-pocket.
 
[quote name='dohdough']They tend to be cheaper because their coverage is minimal with high deductibles.[/QUOTE]

It really depends on your state and personal circumstances. For someone that is healthy and rarely goes to the doctor, a high deductible plan can make a lot of sense.

[quote name='Kendro']I'm in NY. I currently have a plan called PPO 80 with United Healthcare.

By the way, everyone has officially scared the shit outta me regarding financial ruin. I think I'm gonna definitely fork over for health insurance just to protect my savings.

I tried doing one of those free quotes on Empire Blue Cross and it quoted me around $180 a month. I don't know much about health insurance but it seemed like it excluded a lot of stuff.

I'm thinking of sticking with my PPO 80 and using COBRA for $250 a month since it is $70 more but includes a ton of shit.[/QUOTE]

Does that Empire Blue Cross plan exclude office visits and prescription drugs? If it does, I'd stay away from that.

My understanding is that NY health insurance rates are really high, so taking the $250/month COBRA plan is probably a good choice.
 
$250 a month is not bad at all. I have ok benefits as a state employee and my contribution to my BCBS HMO is $182.56 a month currently (employer contribution is $425.99) just for me as I have no dependents.
 
[quote name='dmaul1114']$250 a month is not bad at all. I have ok benefits as a state employee and my contribution to my BCBS HMO is $182.56 a month currently (employer contribution is $425.99) just for me as I have no dependents.[/QUOTE]

Yea, I remember mine being over $400, and same with the GF's.
 
[quote name='drktrpr1']I'm uninsured right now, but am definitely looking into it. I'm also slightly overweight, but have been actively losing weight for the past few months. I'm 25 and don't have any pre-existing conditions...

Should I wait another few months to buy a plan after I lose some more weight, or just bite the bullet knowing that my extra weight won't drive up the cost too much?

If I buy a plan but get into shape, is it easy to re-evaluate your physical condition and lower your costs?[/QUOTE]

The individual carriers will have height weight ratios or guidelines. Depends on the weight as some persons overweight is not another persons/carriers. Each carrier will probably slightly differ in your area.

Again this is where a local agent can quickly look at their charts for the carriers that fit and tell you what weight you need to hit to get to the next tier, if any.
 
[quote name='Snake2715']such a misconception of what COBRA is. It is literally the full charge of what your employer was paying, with an optional 2% administration charge.

Thats all it is.

So if cobra is 250 for the OP that is the full cost they were paying for him. each sate has its own rules on individual and group mandates, so individual may vary a lot or a little from what group offers, etc.

If your a single guy and the group was getting it for 250 (we still down know anything about that plan or if it is any good) you should be in the 100-600 range. Obviously if you have health conditions then you can get rated up for that exposure as well.


Bottom line call a local agent in your area that specializes it. It costs you NO more to go to a local agent. you either have an internal agent at the company on that companies payroll, or you have an individual agent that makes commission on your sale, and has your interest as a priority.

I have been a life and health agent for over 10 years. I didn't even look at your state, but don't call an out of state guy call someone local that knows what carriers provide coverage at your hospitals and doctors you will go to.

Good luck.





And thats illegal as well, I do believe. There are requirements (at least in the 4 states I write in) that the employer pays a certain percentage of the premium. Now does that always happen? Of course not I can name many groups that pass on 100% to the employees... if someone blew the whistle would they be in trouble.. damn right. Call the local Office of Financial Insurance regulation or similar body if you want raise a stink.. now the business owners I have talked to about this basically tell me that if they have to pay 50% of the single rate (not required to pay any portion for dependents) that they would just stop offering coverage.. thats fine and dandy but a lot of the business owners are getting better coverage by setting it up through their business then they can get individually... so take that for what its worth.[/QUOTE]


You're an idiot. Did you not read my post? I said I paid an additional 2%, so 102% total, and I was not familiar with COBRA charging such a higher cost than that. Did I say it doesn't happen? No, I sure didn't. Perhaps you should learn to read before commenting.
 
I think t's 102% of the total cost of your old insurance--meaning both what you paid and what your employer paid--maybe that's where your mix up is.

In my example above I'm paying $182.56 and my employer is paying $425.99 a month for my health insurance. So if I had to go to Cobra it would be $508.55 plus the 2% admin charge.

So it's a lot more than what you currently pay since you're on the hook for both your old premium and what your employer was contributing, plus the 2% admin fee. At least that's how I understand it, I've thankfully not had to deal with it as I was on my parents insurance through college, and then had good benefits as a GRA through grad school and then went straight to my current job.
 
I havent had insurance since I was like 10. Its one of the reasons I played sports in high school and college because it at least provided some basic form of coverage.

Like most freelancer I will probably would have never been able to afford health care, good thing I married a teacher.
 
I got laid off 3 years ago, let go almost one year, and I have been paying $160 out of pocket for disaster insurance with a high deductible.
 
So disaster insurance is basically so you will still loose everything you have but it wont plague you for the rest of your life?

I dont know......2 grand a year you could save by not having it which, if smart can be used to pay down debt, save for emergency, etc etc.

Thats how I always felt about it, I spent a lot of time excising though to limit the risk. God I love how health is a game of fucking Russian roulette in America. Hmmm do I pay down my student loan quicker and risk going bankrupt or be paying them well within my 60s just in case I break a leg one day.

Sigh....
 
[quote name='Soodmeg']So disaster insurance is basically so you will still loose everything you have but it wont plague you for the rest of your life? [/QUOTE]

If disaster happens, we're not talking tens of thousands of dollars in medical bills. We're talking hundreds of thousands, in rare cases, 7 figures.
 
[quote name='BigPopov']If disaster happens, we're not talking tens of thousands of dollars in medical bills. We're talking hundreds of thousands, in rare cases, 7 figures.[/QUOTE]

Yep. An MRI or CT scan can cost upwards of $6000, maybe more. That's just for one thing!
 
Truly a wealth of knowledge in this thread. I have decided to go with COBRA since it won't impact me too much financially. Thankfully my new job is paying me more.

Snake, I really appreciate you providing your expertise. For some reason I thought the local agents would charge more, not less. It is something I will definitely consider if I ever become unemployed or self-employed.

I think for now, since I will go off contract in 6 months and become a permanent employee, it is easier just to continue with my coverage and pay the extra cost without giving myself a headache.
 
Gotcha, never heard of it for some reason. Man health care in America paints such a bleak picture.
 
I know the OP already made a decision here, but I just wanted to say that you should always, always have at least a catastrophic health insurance plan. Yes it may be a crappy plan because your deductible is $4000 or something, but have you even seen what the average cost is to stay like just 1 to 2 weeks in a hospital? Let's just say you'll be glad you have that health plan with a $4000 deductible when it is all over...
 
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