Question
What is the name of your state? California.
I, my wife and my two kids, 10 and 12 have been enrolled in the PPO Cobra medical insurance, since January 2006 after loosing my job, We've been paying $1100 a month to be covered, as you all know, Cobra is only for 18 months, and we are close to that date, am going through financial difficulty and barely able to make the $1100 since am not working due to disability, and my wife is a home maker.
How to get a cheaper health insurance? I don't mind getting HMO plan, as long as the co-payments are gonna be the same ($20.00 doctors visits) and ($15.00 RX). I was diagnosed with Stage II Diabetes in June 2006, and my wife is the same.
Any advise will be appreciated, Thank you
Answer
Frankly, I wouldn't count on finding something comparable that is much cheaper. The whole deal with COBRA is that you're getting to take advantage of group rates, which are generally lower than individual rates since they have a broader base.
I'm not in your state but my state tends to be comparable in terms of health care. My husband recently lost his insurance and the cheapest insurance we found that was in any way comparable to the insurance he lost was over $900. And it's just the two of us, though I suspect from the ages of your kids that you are younger than we are. That might help. On the other hand, ours is a guaranteed issue state, which yours is not.
Your best bet is probably to work through an insurance broker, who will have access to sources that you may not be able to find on your own, and also to negotiate the best possible rates.
Answer
Your insurance is about to become far more expensive. To see the options, go to:
for an example of the rates:
Answer
You should look into state-sponsored insurance programs, at least for your kids. There may be a CHIP program available if you qualify, and since you're not working and only getting disability for income, you may even qualify for Medicaid (though maybe not if you've been able to afford $1100 per month for insurance thus far).
There is also the possiblity of getting a Cobra extension, though I don't know how difficult it is to get on or what reasons they accept.
Answer
ecmst12 raises a good point. There is the possibility of a continuation of COBRA for an additional 11 months IF you qualify.
To know if you do, please let us know whether your disability is temporary or permanent; whether it began before or after the COBRA started, and if after, how long after.
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However, the employer may increase the charge for the last 11 months of coverage from 102% of the premium to 150% of the premium. It's an option though if you qualify.
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cbg - when is it in Ca. that you can extend cobra for 36 months - thanks. Betty
Answer
cbg - thanks for your PM. I did some checking myself & it looks like death of employee, divorce/legal separation, loss of dep. status, Medicare entitlement - etc. see:
Betty
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You may be able to insure the kids through 'Healthy Families':