Archived COBRA Question

[Doglover89]

Hi, wondering if an HRTM can answer a quick question for me: I had my last day at Spot last week. Will I be notified about COBRA coverage? I cannot pick up insurance at my new job for a few months. TIA.

 

[Hardlinesmaster]

Depends on your state laws. You usually have 30 days to either get COBRA (an extension of your current coverage that you pay for) or find new coverage.
Thanks
HRZone,

 

[HRZone]

You should get a letter explaining your eligibility anyday now

 

[LUR99]

You will get a letter in the mail explaining COBRA and the cost. Be prepared to pay a lot more for coverage with COBRA.

 

[garbage]

You will get a letter in the mail explaining COBRA and the cost. Be prepared to pay a lot more for coverage with COBRA.

COBRA costs about $270 a month from what I remember. They send you all the info about it in the mail.

 

[bikebryan]

Cobra coverage rates are 102% of the premium you pay currently - but remember that a large percentage of your premium is employer subsidized. You do not usually know what large percentage the company pays, so expect your jaw to hit the floor when you see what the rate is.

 

[SoCalMama]

COBRA costs about $270 a month from what I remember. They send you all the info about it in the mail.

For my family of 4, I paid $1368 a month for COBRA this year. I think it depends on many factors.

 

[LUR99]

For my family of 4, I paid $1368 a month for COBRA this year. I think it depends on many factors.

Yes there are a few factors. Years ago I paid $127 for Cobra for just myself (different company), most companies charge around $1200-$1500 for family coverage and around $300/month for just the Team Member.

 

[Ringwraith917]

So you can get Cobra, and live in a cardboard box under the freeway. $1300 a month is an insane amount to have to pay for insurance. That's 80hrs /month at $8.125 / hr. That's not even taking taxes into account. Hope your significant other can swing all the other household bills.