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Originally posted by edvedr morgan, i'm an insurance agent and the reason why cobra is not the best is cost, you actually pay 105% of what your employer was paying, its good coverage just not cost effective.
Always thought that if it was a large group, that you got a better deal, because they were getting a discount anyway. And also that COBRA was discounted to you from the employers' policy like about a third less. I know that I had this years ago, and the policy was actually less cost to me and my new employer than it was when I was with a large corp. I must have missed something, or did stuff change a lot. Talking about 8-10 years ago.
So be sure that you are makin the best of what that you have
the truth is all within yourself
its possible things were different 8-10 years, i've only been in the business for 6 years. and as for it being cheaper with the newer employee it was because you had a new group rating, completely new policy.
Originally posted by edvedr its possible things were different 8-10 years, i've only been in the business for 6 years. and as for it being cheaper with the newer employee it was because you had a new group rating, completely new policy.
Okay, makes sense. I hate to give bad info out. Most topics like this have a big impact if you say or do the wrong thing. Rather
say I'm wrong or an idiot then have someone make a bad choice on my info.
So be sure that you are makin the best of what that you have
the truth is all within yourself
Cobra, just pay attention to the name, it will tell you all you want to know, okay lol j/k
The thing about Cobra is your company is 100% required to give you a quote and accept you for health coverage.
In reality though, who really wants to help you, your no longer helping them. Plus, it is more hassle for the insurer, forms, etc., no leverage etc.
Cobra, a decade ago, was reasonable and good. Since then health care has changed price wise, mucho mucho more competition. Due to state regulations etc. and the industry in general wanting to follow trends of the aging, plus the raging bull market that started in 87. Insurers wanted any premium they could get there hands on to invest in bonds, etc., for higher returns.
Cobra is good coverage at a high high price. That's the only downside.
Also, the wonders of the net allows many more companies to compete for you. And who do they want young men over 25 in good shape, with no car wrecks, they are the least costly to insure.
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