Archived Cobra

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PinkZinnia

PinkZinnia

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Dec 3, 2013
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Does anyone know how much cobra would be for one person?

Ins at new place won't kick in for 90 days.
 
I'm curious about this as well. I'm sure you can call the tmsc, but I just haven't done it.
 
unknown said:
The way I understand it, Cobra is a government sponsored interim health insurance program. My experience ... It is very expensive. I was laid off a former job. And we were advised to sign up for Cobra. I was truly cost prohibitive.
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last time I was eligible it was four times what I was paying for company healthcare. That was pre-obamacare though. Not sure how that effects that.
 
COBRA is a carry-over insurance that you can access for up to 18 mos from your last job that you had health coverage with. The price is based on what you paid while employed & is expensive but it can be a stop-gap while you're seeking coverage or waiting for coverage to kick in elsewhere.
You're basically paying full-premium+ because you're no longer employed with the source of your previous coverage.
You'll need to call TMSC or Target Pay & Benefits to get an exact quote.
 
COBRA was a gov't act. It requires your former employer to allow you to continue your employer sponsored health insurance at your own cost. Now most employers pay about 80% of health insurance costs, and the employee pays the remainder. So, if Target's coverage is set up that way, you can expect your costs to be 5 times more than what you were paying.
 
You can sign up for health care on the government website for your state until your insurance kicks in. I know that because this is a "life change" you are allowed to sign up outside the normal registration times. It will probably be cheaper than COBRA because with COBRA, you pay Target's part, your part and a service fee.
 
Here's how to check what COBRA will cost you thru Target.

Go to mypayandbenefits.com
Click on Manage Life Events
Click on Continuing Coverage Thru COBRA

My COBRA bill would be a little over $1000 / month for my family and me. My current bill is $375.00 / month.
 
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Redman. I can get state issued health insurance. But none of my doctors take it. The site said I qualify for 700.00 a month in tax credits but when I click on the bronze/silver or gold plans it shows full price plans. Since it is Memorial Day no one is working in state run agencies so I will have to wait until tomorrow.
I do not want the state plan. I had it before and you are treated like a subhuman when you go to the clinics.

I hate health ins. I am sure I have mentioned that before
 
Redman. Thank you. The rate would double. It will be about 400.00 for medical and dental. If I am understanding correctly, my benefits will continue but I pay the full price. If so, that would be so much better then getting new ins.
I will call them tomorrow also to make sure deductible doesn't start over again.
 
What happens is that Target will contact you within 14 days after your term date. At that time you can accept the COBRA plan which will be backdated so that you will never be off coverage.
 
Typically COBRA was 105% of the full cost of your premium. As others have mentioned, you really don't know just what that is. Employers usually pay a huge amount of your premium for you, so when you receive the COBRA notice, prepare to see you jaw hit the floor at the cost.
 
Here is the number below for tmsc. Good luck, pink. Depending on which state you live in, there maybe other insurance options for you, other than Cobra.

Pink, did you get a new job?
 
PinkZinnia said:
I do not want the state plan. I had it before and you are treated like a subhuman when you go to the clinics.

I hate health ins. I am sure I have mentioned that before
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That sucks. I have a free state insurance and I kinda love it. I have some form of horizon bcbs HMO thing going. I found an office that takes it and is open late and on weekends. I miss my old doctors, but I couldn't get cobra. The cost didn't make sense. Also my mom's portion didn't go down when they kicked me off, so I don't understand.

Edit: I rambled and went on tangents...
 
RedMan said:
Here's how to check what COBRA will cost you thru Target.

Go to mypayandbenefits.com
Click on Manage Life Events
Click on Continuing Coverage Thru COBRA

My COBRA bill would be a little over $1000 / month for my family and me. My current bill is $375.00 / month.
Click to expand...

What plan do you have currently?
 
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