Looking for Ford COBRA costs. NESC gives different prices every time I call them. Looking for ex-Ford employees currently paying for Ford COBRA for themselves + spouse. How much does Ford COBRA actually cost. Help please.
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Although the premiums may look similar for both, the kicker is the deductible/out of pocket max on ACA/Healthcare.gov will be 2 to 3 times more. And dental in your own won't cover much more than cleanings, little for fillings or crowns. Most people don't bother with dental under ACA.
COBRA is MUCH more affordable way to go! I reviewed ALL options, with an expert.
Here is the link to ACA. Health Care insurance. 2023 premiums prices are posted
https://www.healthcare.gov/
If you make little income (savings does not matter), ACA (Obamacare) will be very reasonable. Last time I checked, for a annual income of $35k, ACA was $60/month. This was a few years ago. Things may have changed.
@1dki+1jnESXGJ "What is ACA"
Affordable Care Act aka Obamacare.
What is "ACA" mean in reference to the post above?
You all assume I get the Ford $1000/mo subsidy - I do not. I found the actual 2023 Ford Cobra today on line. 10% increase next year. Still cheaper than ACA plans.
OP:
- Look at last year's W2 box 12DD and get the number.
- Multiply that number by 1.02 (1.02 = 102%)
- The result of step 2 = "... the actual price of Ford COBRA for employee + spouse. "
I hope its clear now. You said "I understand the 102%" so I guess you didn't understand what to do with that percentage. Now you know.
@kpp+1jnESXGJ Good to know!
@xdi+1jnESXGJ
"ACA coverage along with Ford's HRA appears to be much cheaper than taking the COBRA coverage"
You can use HRA to cover COBRA costs.
"In my case, I have BCBS PPO and Delta Dental for me and my wife. The 1000/month covered both of us. I think they said 864 (medical) and 64 (dental)."
ACA coverage along with Ford's HRA appears to be much cheaper than taking the COPRA coverage. Husband and Wife cost would cost around $570/month after Ford's contribution. Plus, there are other HMO plans where the cost (after Ford's contribution) could cost nothing.
Think twice before jumping on the COBRA wagon!
OP
Did you have your wife covered on your health insurance? If so, like everyone else mentioned it's 102% of W2 box 12DD. If not, call NESC and they'll tell you rates.
In my case, I have BCBS PPO and Delta Dental for me and my wife. The 1000/month covered both of us. I think they said 864 (medical) and 64 (dental).
Look on your last years W2 box 12DD. That’s what Ford paid last year for your health insurance.Cobra should be 102% of that.
OP here - I am asking for the price of Ford COBRA for employee + spouse. I understand the 102%... looking for the actual price of Ford COBRA for employee + spouse.
102% of current cost. Dental and vision same thing