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 Posted: Fri Feb 27, 2009 8:26 am Post subject: COBRA analysis |
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Hi..I'd looked for COBRA info over here but didn't come across any
explanation of the cost and the length of the coverage. Would you
guys please explain it to me!
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Barcucumber
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| Posted: Fri Feb 27, 2009 11:19 am Post subject: |
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You can continue with your existing group health coverage for thirty six months even after leaving/losing the employment under the COBRA continuation act. And, for this time period you'd be responsible for paying the entire premium of the coverage along with the 2% administrative fees. Hence, COBRA may cause 100% increase in your health insurance cost.
Very recently I've written a post regarding cost of COBRA on my blog, you may wish to go through that as well.
Regards,
Juanita
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Juanita
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| Posted: Sat Feb 28, 2009 7:52 am Post subject: |
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Well my friend, I may share with you some information regarding the cost of cobra-
* Cost of cobra would usually vary from one policy to another. Qualified beneficiaries would have a cost cap worth 102%.
* Premium hikes are commensurate with the plan cost but they are made to stay even throughout the year.
* Payments could be made once in a month, once in seven days or even quarterly.
* The beneficiaries are required to meet other costs associated with the plan e.g. deductibles and co-payments.
Thanks, Fatman |
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fatman
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