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Joseph C | Health Insurance: How Much Will COBRA cost me? |
I'm not one who likes working for others, and I'm getting enrolled in my company's health insurance. It's only for me, and they'll wind up deducting like $160 per month from my paycheck.
I'm looking to leave as soon as I can, but if I choose to maintain the insurance through COBRA, will it be close to around the $160 or is it likely to be much higher, like $300 or more?
Is there any way I can find out at this time? |
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mbrcatz
|
Oh, it's going to be much higher. See, YOU pay $160. Your employer likely is paying $160, or maybe even more. So YOUR cost is 102% of the TOTAL cost, which would be how much you pay, AND how much your employer pays.
The average is about $350 per month, for a single employee.
You can't find out what YOUR company pays, per employee, without asking the HR department. |
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NHMike
 |
Your $160 per month is your portion of the company premium, which is significantly higher. If you elect COBRA, you will be billed for the entire premium that the company pays, plus a small increase on top to cover administration expenses. In my experiences, my premium has been 20 to 25% of the company premium, so when I left, COBRA was 3+ times more than my monthly employee premium. I can't provide you with a firm answer since I do not know your company policies, but you should be able to find out from the HR department. |
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Insurance Pickle.com
|
Nobody here is going to have any idea what your COBRA's going to cost. I've seen everything from $100-$600/month. I've seen $240/month bills for a couple. It has to do with what the cost of the insurance is at your company. Nobody here will know that.
BUT, if you're healthy just go price an individual policy because the odds are that it'll be cheaper than COBRA anyway since individual coverage is cheaper than group (most of the time) |
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DeeAnna
|
If you have an insurance card, you can call the company and ask them directly. If the company you are employed with is making part of your payment, then you will have to make the full payment on COBRA. Be sure to ask them how long you are entitled to COBRA , it usually only last a few months to give you time to find another job that offers health insurance or to buy an individual policy. If you have pre-existing conditions a group plan is best, if you have no pre-existing conditions an individual policy may be cheaper depending on the coverage and deductible you select. If you don't like working for others than an individual policy is best. Shop around get a few quotes. The amount of policy holders and claims on a plan determines premiums, so it can be very different. If you really want to be sure it's a good company, call your local doctor or hospital and ask which insurance companies pay the best.
Good Luck To You |
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Baby Girl Due May 2009!
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You will pay 102% of what they are paying now. So you will pay about $164.00...100% is your premium & they other 2% is for paper work & other fees....This is what we have to pay in Texas & im pretty sure its the same for the rest of the US as well. I hope this helps! :) |
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terry3222003
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You will pay the same amount as when you are working.
Call any health insurance co and ask for Cobra dept |
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