Health Insurance dilemma for all Sears current and former Sears associates

Some details to think about... (I am not telling anyone what to do)

If Sears does file for Chapter 7, this will most likely end current COBRA benefits and health insurance for current employees.

For most companies, right now is the annual enrollment period. If you are fortunate enough to have a working spouse/domestic partner, you might want to consider jumping on their insurance so you have health insurance if the worst case scenario occurs. I am not sure what happens if Sears files for 7 in the next few months or early 2019 (regarding health insurance).

If you are currently using COBRA, you might want to consider applying for 'Obama-care' (healthcare.gov) during the enrollment period Nov 1 to Dec 15 to cover yourself in case Sears shuts down (chapter 7).

I am contacting my health insurance agent this week to mull over my options. I am supposed to be eligible for Sears retiree health insurance and COBRA but since this whole affair is so unstable it's best to think about an alternate plan.

Mentioning this because so many of us are looking for a job right now and details like this can fall thru the cracks. It can be devastating especially for families if your health coverage ends abruptly. Some health insurance companies have waiting periods so one could be without health insurance for a couple months if chapter 7 happens late this year or early next year.

Feel free to comment if you have any helpful advice or information about this topic.

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thanks for the information

If you lose a job through no fault of your own, that is a qualifying event and you can enroll in Obamacare at any time during a window that lasts a few months (I can't remember if it is 60 or 90 days after last day of employment) of your last day working.

Remember most of you will get credits that can dramatically reduce the cost of insurance. The high deductible plans are the cheapest, but basically cover nothing until you pay $6,000+ out of pocket during the year. Some people establish savings accounts to cover doctor visits and meds. If you see the doctor frequently or are on expensive meds, you will need a plan that either has a much lower deductible or one that has a significant deductible BUT covers pr-scrip-ion d--gs without any deductible.

BEWARE of those junk short term health care plans available in some states. The Trump Admin wants to allow those again and they are a total ripoff because they will deny virtually every claim you make for a myriad of reasons. They have deductibles too, exclude pre-existing conditions, make their own determinations about medical necessity that are assuredly stricter than your own. They won't even cover you if you are found to be obese, have significant medical problems, are old, or have a family history of frequent use of health care. They remind you why the old system before Obamacare was so horrible.

COBRA is the most expensive insurance there is. Try to avoid it unless you get some sort of cost sharing.

If you lose your health insurance you don't have to wait for open enrollment. Did a Google search on a qualifing event such as losing your health insurance and these are the results.

Special Enrollment Period (SEP) A time outside the yearly Open Enrollment Period when you can sign up for health insurance. You qualify for a Special Enrollment Period if you've had certain life events, including losing health coverage.

A qualifying life event is an event in your life that makes you eligible for a special enrollment period. The special enrollment period generally lasts 60 days before or after the qualifying life event.

Thread regarding Sears layoffs

Health Insurance dilemma for all Sears current and former Sears associates

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