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Old 09-22-2012, 08:34 AM   #1
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Join Date: Jun 2012
Location: SW, OH, USA
Posts: 105
Sandy Caregiver HB UserSandy Caregiver HB UserSandy Caregiver HB UserSandy Caregiver HB User
Exclamation COBRA vs COMPANY DISABL. INSURANCE

We finally have been offered a choice of cobra with same coverage as we had while employed, or the company retiree medical insurance.
As we know, the downside to Cobra is that it doesn't last. Since our previous insurance was SOOOO good, it covered most things at 100% with no deductible. It will cost only $200 more a month than the other. But there is no deductible and no copay, except when you go to the doctor. Like no co-pay for therapy or his foot brace, or his hospitalization. It is possible that the 18mo would be extended another 11 months. The wording is iffy on this 11 months. It says if you become Soc Sec disabled within 60 days of going on cobra you get another 11 months. But what if you already got accepted for soc sec disabled before you start cobra. He was terminated from the stroke he had after the 6 month mark of not returning to work. I got the soc sec the month before his termination. So cobra came after that, as he still had group insurance till then.

But when he hits medicare, would I still get cobra if he goes on medicare? He gets medicare when disab for 2 yearsd, but I will not be old enough.
At the point, Obama care should be in affect (2014), dare I hope it will be no worse than the below plan? (except for losing that particular life insurance). I know that he will get more care and therapies if I take cobra, and we won't go broke doing it, at least for the next 18months or longer.

On the other hand, the company insurance is $200 cheaper, but comes with a hefty $500 med ded & $500 RX deductible, EACH. Then it has 80% coverage, with us paying 20% on all bills. (what's 20% of an MRI?) A regular retiree would possibly make out on this, if they never needed to go to the doctor. The $200 a month we saved in premiums would quickly be eaten up by us paying 20% of all therapies and his afo and our maintenance meds. This (stinky) insurance, would go all the way thru to becoming secondary with medicare. It also includes his previous $108,000 life insurance, still in tact. There is a good chance that we won't be able to afford the therapy co-pays with this insurance. Although, the therapy place, does allow a 'membership' from all previous patients, who can come in and use the equipment for $50 a month, but no therapist work on you.

I must make a decision no later than Monday, today would be better!

Last edited by Sandy Caregiver; 09-22-2012 at 09:19 AM.

 
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