Archived If leave company, how does it affect your health insurance?

[Star866]

As my title is stated, anyone know for sure how that works once you leave Target? Do you get any sort of notification as far as how much time for coverage you have left? Or is it as soon as you have your last day with your store, that is last day of your coverage? Hopefully this is in the right forum!


Hopefully someone can help me with this!

 

[commiecorvus]

Your coverage stops the day you leave.

You have the right to COBRA and will get a letter in the mail to that effect.
COBRA is basically the same coverage that you pay for completely.
I can say with some authority that it is probably not worth it because they charge the max.

You will probably be better off getting on the phone and hooking up with the ACA.

 

[Star866]

okay thank you! See that is what I figured. But wanted to check with other fellow team members to check for sure. Least wanted to save myself the hassle of calling up the insurance company! lol

 

[bikebryan]

Saying "they charge the max" in relation to COBRA is a little misleading. They charge you just a little more than what you AND the company were paying. When we get healthcare through our employers, for the most part we see very little of the actual cost. The employers usually bear the HUGE brunt of the cost. COBRA just shows you how much the company is actually paying. It makes you appreciate it more after you lose it.

 

[commiecorvus]

Saying "they charge the max" in relation to COBRA is a little misleading. They charge you just a little more than what you AND the company were paying. When we get healthcare through our employers, for the most part we see very little of the actual cost. The employers usually bear the HUGE brunt of the cost. COBRA just shows you how much the company is actually paying. It makes you appreciate it more after you lose it.

Valid point.
But the company gets discounts because they are covering large numbers of employees or are self covered (like Spot).
Those discounts aren't passed along to you.

You will still be better off going to the ACA.

 

[Backroom81]

When we get healthcare through our employers, for the most part we see very little of the actual cost. The employers usually bear the HUGE brunt of the cost.

That depends on the company. My main job covers 75% of the employee cost + 50% of dependents. My wife's job covers a flat $225 a month regardless of who all is enrolled. Enrolling our entire family in her insurance would have come out to almost $900 coming out of her check.

 

[Amaazingdude]

As my title is stated, anyone know for sure how that works once you leave Target? Do you get any sort of notification as far as how much time for coverage you have left? Or is it as soon as you have your last day with your store, that is last day of your coverage? Hopefully this is in the right forum!


Hopefully someone can help me with this!

You're covered under COBRA.

 

[bikebryan]

That depends on the company. My main job covers 75% of the employee cost + 50% of dependents. My wife's job covers a flat $225 a month regardless of who all is enrolled. Enrolling our entire family in her insurance would have come out to almost $900 coming out of her check.

Fair enough to say. I'm talking about major employers or large companies. In that case, what I was saying is almost always true. I also agree that for the original poster, the heathcare exchanges are probably a good bet.

 

[Retail Girl]

I'm curious what the COBRA rate will be. When I eventually get a new job, there may be a small gap between when I leave Spot and when I get on my new employer's insurance. I will need to check with the people on both ends to find out the COBRA cost and to see how soon I can jump on the new insurance.

May this information be needed sooner rather than later.

 

[rocket99]

It's been a while since I've looked up this info, but usually COBRA you can wait up to 30 days before applying - so if your new insurance kicks in before the 30 days is up, just wait and if you don't need it for anything you'll be good! If you do, they'll back date it...don't take my word for it...research, but just how i've handled it in the past.

 

[PinkZinnia]

If you leave your job. You should be able to apply for Obamacare and may be double for the tax credits - even though enrollment might be over, it's called change in circumstances which enables you to apply.
Of course it depends on the state you are in to decide costs and coverage
https://www.healthcare.gov

 

[RxAnnie]

In case you don't have new coverage set up yet I found a good website for prescription discounts. We use it sometimes in the pharmacy when a guest doesn't have prescription insurance. I know we're suppose to use the Target discount card; but honestly, it's horrible and I don't feel good about making people pay $10 for something that you can get better for free.

www.medfisher.com

It's really easy to use. And you can even use it if you have insurance. Hopefully it'll help you out some.