I am a low level employee with 2 years at the bank. Will giving no notice of resigning jeopardize receiving COBRA?
8 replies (most recent on top)
@3agv, my understanding is you have to apply within 2 months of losing your insurance.
From what I understand, you can apply for COBRA retroactively. Meaning you can wait until you need emergency care and then opt in (within some window of time). You will however, have to retroactively pay all premiums.
@ivr+, the thing is that your insurance doesn't cover anything unless you end up with some kind of catastrophe. And in that case it's quite easy to get things paid for or forgiven. Last year single cobra coverage was $513.40 per month. That's $6,160.80 per year to get 80% of your bills paid after you fork out another $4k for your deductible.
Nope. No legal reason to deny you if you are otherwise eligible.
Come back and let us know when you get your COBRA cost. Yes, it will be much less than the Family version, but it will still be one of the most expensive options available to you.
The added expense will not be so onerous, being that I am single.
I simply wanted to make certain that I can't be denied COBRA if I resign without notice.
Just to give you an idea... the monthly COBRA payment for my last gig's family health plan would have amounted to $1977/mo, where I was paying around $520/mo as an employee. I'm just saying... there are generally MUCH more reasonable and cost-effective options at your disposal than continuing what you have via COBRA. If you're healthy enough, you might even consider skipping it altogether for a few months. Certainly a personal choice. I did it myself a couple times over the years, and my gamble paid off, but yours might not.)
If I resign I have no insurance. COBRA would keep my healthcare and at a cost which I understand.
Asking the benefits team could very likely leak my inquiry back to management. Will not risk that.
Nope, not as long as you otherwise qualify for COBRA. (If you've been working full time for 2yrs I'm guessing you do.) Of course you could just ask the benefits team this question.
Odd to want to keep COBRA this early in a plan year, unless you've had some early-year claims and have already met your deductible or something. It will definitely be one of the most expensive options available to you since you'll be paying full price plus fees