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I keep my change in my pockets
Posts: 2985
   
Location: MN | If you quit your job, can you go Cobra on your health insurance? I know that if you are let go, the employer has to offer you Cobra on health insurance. Just need to know if you quit what happens. I live in Minnesota.
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 Undercover Amish Mafia Member
Posts: 9992
Location: Kansas | If I were to quit my job, I wouldn't get any benefits unless I paid the fees for that month...it would just continue until the beginning of the next month. Not sure about your area, but doubt you would be offered if you quit. Unemployment works the same here |
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 Veteran
Posts: 138
Location: MS | Yes, you can go on COBRA if you quit. You have to pay the full price of the insurance (your part + whatever your employer was paying for you). It used to be 18 months but Obamacare may have changed that.
ETA: As long as your group insurance is COBRA eligible. I think your company has to employ 20+ people, etc. Also some states have separate COBRA laws as well.
Edited by DashNSpeckles 2015-08-25 1:38 PM
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 Texas Taco
Posts: 7499
Location: Bandera, TX | Not sure how things might have changed now with Obamacare...., but I was able to find a good plan that was much much cheaper than COBRA on the free market a few years ago. It might be worth checking into it. |
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 Hugs to You
Posts: 7551
Location: In The Land of Cotton | If you quit, were layed off, or company closed and your company had a qualified plan you can get COBRA. You pay the premiums. You can get COBRa for 18 months for the same people that were on the plan as when you were employed, with the same benefits, terms etc.
As stated, however, a plan in the open market place might be cheaper. |
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I keep my change in my pockets
Posts: 2985
Location: MN | My hubby started a new job in July and there is a 90 probation period before he knows if the company will keep him. If he passes we get on that insurance. I'm staying at my job right now to keep our health insurance, but I want to change jobs. Just not sure if I can hung in there on my current job. |
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Elite Veteran
Posts: 629
| Yes, if you quit you can go on COBRA.
However, as others have said you could possibly get a plan on the marketplace for cheaper. ALSO, through COBRA, whether you quit or are laid off, you COULD possibly pay up to 150% of the premium. So, just so I make sure that makes sense. Let's say that your premium is billed to your employer at $500/month. Even if you pay $100, and your employer paid $400, yes you would be responsible for the full $500 premium. THEY COULD also ONLY give you the option to pay up to as much as $750/month for the same coverage. I'm not really sure how they determine if and what additional percent you pay, all I know is, I worked in HR at a company and we had an employee leave, and for whatever reason they chose to make him pay the 150%.
Now, depending on how often you go to the doctor and other unforeseen circumstances regardless of the premium, it may be beneficial to you to stay on that plan. Your deductible that has been met should remain as it was. Whereas, if you were to start a plan through the marketplace, it will be a brand new plan, and any doctors visits you may go to while on that plan start accumulating back from $0 met as if it were the beginning of the year. |
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I keep my change in my pockets
Posts: 2985
Location: MN | The other part is my hubby is just getting tested for rheumatoid arthritis. We know he has the markers for it just do t know what kind and how long he will be able to keep working. |
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 Expert
Posts: 2152
Location: Northern MN | Cobra Benefits are very expensive but they should be offered to you for 18 months I believe. I am in MN too. |
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Veteran
Posts: 106
| Ok, here goes...
Yes, you are eligible for Cobra if you quit however you will pay a much higher rate than what you were paying...it is dependent on the company you work for and it will be high. Individual coverage usually starts 300-500 range per month with some family plans going up to 1000-1200 per month. That is for medical only coverage...not dental and not vision. You are able to a la carte your Cobra if you were able to do it as a regular employee..its a mirror image.
18 months is the max amount of time you can remain on your employers cobra plan. You will pay monthly. Once you are terminated from the system they have 30-60 days to send you your Cobra packet in the mail. Regardless of when you receive it, if you elect it, the coverage will retro back to your last day of coverage so that there will not be a lapse of coverage. Most places of business....you will lose coverage as of midnight the day of your termination.
Cobra is a numbers game...esp if you are waiting for other coverage to kick in. You typically have 60-80 days leeway to decide if you want it but you will pay all months that have passed upfront.
You do not have to stay on Cobra for 18 months..you can stay on long enough to gain your other coverage.
I am in this world....DO NOT go without coverage...you don't want to have a lapse because your new insurance coverage can deny your husband's RA as a pre existing condition and deny.
Edited by Wishful 2015-08-28 3:20 PM
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