Got the separation file, next week is my last week in Cisco. Need some help on COBRA:
Can I select the length of COBRA coverage? like 3 month or 6 months?
Does nyone know how much I need pay monthly for the COBRA for Metlife Dental?
Thanks in advance.
When I was LR'ed in 2016, we got a lump sum payment for medical which we could use for Cobra or to get insurance elsewhere. The amount they gave you should match the payment you had to make for your existing insurance for a number of months (if I remember correctly). You could also pay for Cobra for up to 18 months or any number of months less than that.
When I was LR'ed in 2016, we got a lump sum payment for medical which we could use for Cobra or to get insurance elsewhere. The amount they gave you should match the payment you had to make for your existing insurance for a number of months (if I remember correctly).
You should definitely contact HR. You should consider contacting your Insurance Provider help line as well. When I separated earlier this year I got different answers and it took a while to get everything straight. My circumstances were extremely unusual.
Internal HR website has the schedule of payments. You will pay the administrator, Workplace Resources, and the price is you existing premium, the Cisco subsidy and a five percent administrative fee. The administrator will mail out the forms but you can go to their website and fill out the form online w/o waiting for the paperwork to arrive. Either way your COBRA coverage backdates to the end of Cisco coverage (last day of your termination month). If anything happens during that period you can negotiate with your MD to delay submitting the paperwork or pay out of pocket and get reimbursed. You will likely get stuck with more out of pocket if you pay as the insurance company will negotiate a price and you may have to pay retail.
You can pay online and you can make multiple payments at one time. COBRA is good for 18 months (longer in some special circumstances) and it ends on the last day of the last month that you pay. If you get other coverage I think that your coverage under COBRA will become secondary. If this is likely to occur you should check with the Insurance company (Cisco Benefits doesn't know much about this).
The insurance is the same as you have now unless you change it during open enrollment which may be over. Same card, same group number, same everything. Does not reset your out-of-pocket clock. If you or covered family members are undergoing treatment for serious or chronic conditions this ensures continuity. hmm....it ensures continuity even if you never seek treatment :)
COBRA looks expensive until you price out similar coverage. Cisco has a very large risk pool and has done a good job negotiating price and benefits and pharma coverage with Cisco is particularly strong. Several folks in the SPVSS divestiture effectively took a $20K+ cut in pay because NuCorpse's insurance program did not cover meds they needed for chronic conditions.
Good luck.
How it works is your COBRA kicks in retroactively to the month after your CSCO coverage ends. Your CSCO coverage lasts until the last day of the month that you sign your paperwork or your 30 day period ends. So if you are notified in Nov and wait until Dec, you are covered under CSCO plan until end of Dec. You would start COBRA benefits effective Jan even if your COBRA paperwork doesn’t go through until Feb. Once you start it is monthto month until you cancel or your eligibility period runs out.
Did someone say ObummerCare? Was that serious?
Look at the last few pages of paperwork today and know exactly when COBRA sign up is.
My paperwork says that COBRA info will be mailed to me 14 days after end of current coverage (ends 12/31.)
We have no health issues, but what if something happens early Jan before COBRA kicks in?
I have called a local health plan seller and am planning to go on the marketplace instead for considerable savings.
In order to have this in place for 1/1/19 I am filling out the application this week.
I have kids and all of this is scaring the hell out of me and making me sick to my stomach.
Good luck.
depends on who is covered (you versus family) and if its comprehensive or basic
Talk to HR or read the paperwork you will receive soon. Your paperwork will tell you what your deadline to sign up is. If you fail to sign up before the deadline, you lose your eligibility for COBRA. When you enroll, you’ll see your prices. You will pay 110% of the premium. If I recall from my time, I had to carry all of my coverage or none of it, but that may have changed over the years.
COBRA lasts up to 18 months max and runs monthly. The first month you fail to pay the premium on time, the coverage is stopped. If you fail to pay by the cutoff date, I think it’s either 5 days or a week, your eligibility ends & you can’t restart it. You can elect to stop it at any time during the 18 months.
might be cheaper to buy health insurance on your own
this shall be on your last page of your package.. be very aware of how expensive it is, suggest go Obama care..
Why are you asking such important questions here? Be smart. Ask Cisco HR tomorrow.