So I just got a letter today that my health insurance ended 9/30 and my COBRA coverage begin date was 10/1, but that I have until 12/5 to enroll. So did it actually begin 10/1? What insurance do I have while it processes?
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The BNYM COBRA cost and coverage is a GREAT deal with GREAT coverage and GREAT prices. There is no better deal available on the exchanges for the vast majority.
Don’t trust me, shop and post back here if you find something better.
It's not that risky to go without medical insurance. Your insurance hardly covers anything and if you get something bad such as cancer you'd likely qualify for medicaid anyway.
If you were displaced your medical coverage would continue with your Sub plan. So… did you simply quit? It’s best to identify all of the income sources that you’ll lose before quitting. The employer contributions to the BNYM health plan are great, especially at the lower pay grades. Hopefully you’ll stay healthy until the next job but that is risky.
It’s retroactive to your last date of coverage if you process and pay within 60 days.
COBRA premiums can be paid out of HSA dollars unlike other insurance premiums. Something to consider.
My COBRA would be $513.40 per month. That seems relatively cheap to me but it really doesn't cover anything. I think I'm going to go without and if I have a medical issue that costs thousands, I'll just get insurance and they'll be forced to pay for my pre-existing condition.
COBRA allows you to continue your previous coverage, but you will have to pay the full premium (including the employer paid portion). If you sign up it will be retroactive to 10/1. If you don’t sign up and your previous benefits have expired then you are on your own. In my experience CORBA is usually very expensive considering that you lost your job. It may be worth it to look into other options for medical insurance, unless you really want to continue with the same plan/coverage.