Originally Posted by Stinger
And you can take out COBRA and I have changed jobs and the pre-existing condition is waved if you go from one policy to another in that change. I switched to my wife's insurance last summer when I lost a job and there was no restriction on a pre-existing conditions because I had had insurance in the last x number of days.
18 Months is how long COBRA lasts, and you pay the full premium, and usually a 2% admin fee to the employer/COBRA administrator during that time.
That I cannot answer, I haven't worked out the numbers. Each case by case, I would have to guess.
The best thing would be to get insurance out from under the employer. They pay you cash tax free and you are able to shop for you insurance yourself.
That's not going to happen with a small employer. There (prior to the monstrosity of a bill passing) are many small employers who have a plan to offer, and that is all. The administration for some on the plan some taking cash would be an additional expense some small business could not afford. Some plans require minimum covered lives to even exist.
Why are insurance companies suppose to eat it, pay the penalty and lose money?
If I use aproximately $500 a month in coverage for an existing condition, then my premium should cover that and then some. Group coverage absorbs some of that, depending on how they are rated (age/gender/type).
If a person has a certificate of creditable coverage, the PE condition is a moot subject. It's those that have no coverage to begin with that need the No exclusion of PE.
You have a condition.
You lose your job.
Chose between eating and paying your COBRA premium.
Lose ONE day of coverage.
You no longer have a certificate of creditable coverage.