Hope in COBRA skin

I think things are working themselves out well. The EX (company) is working diligently to have the coverage reinstated. The COBRA administrator is sending me my new packet and all seems to be going well.


I read an article today that I thought was interesting. According to kipligner.com; if you are a college student who is covered by your parents insurance until graduation or a specific age, and you have a pre-existing helth issue you can take advantage of COBRA to extend coverage. (see quote below)

The COBRA option. If your child has an existing health condition, your best option might be to take advantage of COBRA, the federal law that allows an adult child to remain on a parent's policy for up to 36 months.

Coverage your grad receives through an employer-based or individual health plan is usually more comprehensive than what your child would get with student health or short-term insurance, but it's also more expensive. With a COBRA policy, you have to pay both the employer's and employee's share of your group premium plus a 2% administrative fee. Still, COBRA can serve as a safety net while you look into other options. After a child is dropped from your policy, you'll have 60 days to decide if you want COBRA coverage. If a grad gets sick or is injured during that period, you can retroactively buy coverage to pay the bills. More Here about student health coverage and graduation.

What is a better gift than a brand new car? Maintaining good health! COBRA coverage would probably cost the same as a new car payment plus full coverage insurance, but good health is worth much more.

When the COBRA attacks and your commercial is unfinished

Today was filled with such hope. I was going to write my personal commercial so I could have it ready for the big networking event. Well unless I write on the bus home or in the dentists chair I don't know if it will get done today.

I finally decided I could no longer put off dealing with COBRA. As the deadline is approaching in four days. I sent in the last months premiums on Monday and just had to follow up. Turns out my ex-employer switched COBRA administrators and my info was lost in the conversion(this is to be expected, no one is at fault). So I am not really sure where I am at with COBRA. My ex-employer, however, did reinstate my benefits so I will be covered on Monday. Then comes the paper work to be reimbursed for all of the stuff I paid out of pocket and such. When I was laid off I should have just started paying for the premiums right off.

With COBRA you have two months from the time the COBRA administrator is notified of the separation to decide if you will keep the benefits. This is nice in case you get a new job with benefits and you have no pre-existing conditions for which you will need coverage. Then you just ignore the whole issue and move on. However, if you do have a pre-existing condition you should immediately start to pay the premiums because you will need continuous coverage (no gaps) to be covered by your new employers benefits(usually).

In my case I needed the coverage because I took a contract position which has no benefits. So, I messed about and put the issue off until close to the end. NEVER PUT THINGS OFF! This should be tattooed to my arm or something. I used to put things off in high school, I thought I learned my lesson. Well things should work out with a couple of hiccups, but se la vie.

For more on COBRA check out these sites.
US Labor Department FAQ a bit wordy and bureaucratic but it has it all.
Advice from Bank Rate scroll down a bit, clear advice and totally non judgemental.