Is there any other option other than Cobra for those WFR, seeing it's like $1200-1500k+ if you have a family.
This has always been my biggest fear of getting laid off, not having healthcare options, and a family member gets sick before I find another job, and the US healthcare system bankrupts me afterwards for something no fault of my own.
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When I got WFR'd earlier this year, I was facing the same choice. Just like with all the health care coverage options you have when normally employed, choosing between Cobra and ACA has it's pros and cons. My general advice: if you plan to only be unemployed for a short time, then probably just go with Cobra, even though it's more expensive. It's probably not worth the trouble to switch to ACA, only to switch back to a normal plan after getting re-employed (again, assuming you are only out of the job for a short time). I know this is easier said than done to predict, so therein lies the risk. Also, one other really important thing: you need to check if your current primary care provider even accepts ACA. I was surprised when mine told me they didn't accept ANY of those plans! You'll need to call them and ask, so you can know one way or the other.
Read the WFR healthcare material. I believe that you have 60 days to get on COBRA and it's retroactive to your company provided policy cancellation. I had plenty of issues getting the policy setup and going.. I had medical dental expenses with the COBRA policies and for the first few months (10/21-12/21) even though I was supposed to have coverage they were denied. The sub-contractors were a complete CF IMHO. It was frustrating having to chase down issues after just let go.
I would strongly suggest that you apply for an ACA plan next year. For the first 18 months I stayed on COBRA because I was afraid of what I would get but after researching the ACA I have been on it for a year now and it works just as well as the COBRA plan and is cheaper.
Good old HPE. I'm in a different jurisdiction but also affected by WFR and we also can't make alternative health insurance arrangements as we have to wait until HPE request the health insurance provider to take us off the policy.
We don't know when this will happen or if we could end up with a gap in coverage.
What a way to treat people. It makes me sick to think about how much I gave to that place and how I ended up being treated so poorly.
Fu-k HPE.
Was anyone impacted by this latest October wfr actually able to sign up for cobra yet? I call and they keep saying wait, we don’t have your data yet, etc. it’s pathetic.
Kaiser Permanente has a variety of HMO medical insurance plans for individuals at various levels of deductible + premium for you and your family. Kaiser is in quite a number of US-based states.
The lack of response is probably because it is a difficult subject with no easy answer. For me, I have signed up for Cobra as a short-term filler. Yes, it's expensive. But I get my money's worth from it because I need treatment for 2 rare plasma disorders requiring multiple doctor's visits, Lab work, radiation treatment, and MRIs. The Cobra covers my wife and me. Use caution with the company HPE uses for Cobra. There are little gotchas in there and they aren't always upfront. Ask lots of what-if questions, make sure you understand what they are telling you, and get everything in writing.
Fortunately for me, I am close to going on Medicare but I assume the original chat author is not. So it's a matter of comparing Cobra to your local Obamacare exchange. Being in California it's not too bad, one of the very few good things about California 8*). Compare which one is cheaper considering what care you might need. If you and your family are healthy, that's great and take that into consideration. It will be the unknown, the emergencies you want to be sure will be covered. If you can, find a broker who deals in health care policies. Maybe EY can help with it. The goal will be to fill in the gap until you find a new job and get covered again, and you will. Hope it comes soon for you.
@3fvv+1pffKrHh thank you.
It's amazing how many people reply on this site, but when actual useful info is needed, it's like crickets in here.
After I was WFR'd at 63yo I took COBRA for a year and regret it. I paid 8K (single person) and didn't even use it. I went to the ACA the second year and since I kept my income below 50K there was no charge except for their $6300 deductible. It was Blue Cross and I used about $1,000 in healthcare so that is what I paid for the insurance for that year. Then I went to Medicare. I strongly suggest that you look into the ACA, it is actually a good deal even if you make more than 50K.
Your concern is completely understandable as I experienced the same thing in 2020 when I got laid off from HPE.
I agree with the comments here. You can take a risk and be uninsured for a couple of months before you're employed again. I almost considered Obamacare but the queue to get approved for that is longer than the line is to get into the afterlife. Lots of unemployment coverage though. Google will be your friend on that. You should probably ask your doctors what they will take for unemployed coverage so that you're still within their network.
claim your a migrant,its all on the arm then
All you can do, is live your life in a way that optimizes your health and keeps your immune system in top condition. Outside of this, if you still feel you need insurance, there are low cost - emergency-care-only - type of plans out there currently from all of the major insurance companies. I would look into that.