Hey guys, I need some advice. I resigned from my job effective last Friday. My medical insurance expires on the 31st. I can take it with me, but it costs $940 a month for employee + family, which is a good chunk of money. I am starting a new job in two weeks, but it's contract-to-hire, so I won't have company insurance for six months. So I need to make a decision to keep the medical or get some stand-alone medical insurance. Does anyone have any experience with this kind of insurance? Thanks!
That is pretty normal for COBRA. OP, put down the ages of you and your wife, how many kids, and any health issues. With that info. I can give you a pretty good idea of what an alternate plan would cost.
Not expensive if it covers MOST hospital and medication expenses. Aren't you about to be a new dad, sir? Think about the peace of mind for your little one...
I'm 35, wife is 27, son is 3. Thanks, Fatty. Also, the HR person at the job I left was pretty straightforward and told me that it's the true cost of the insurance.
Well, it all depends on how much coverage you want, but I'd suggest some "oh *****" insurance for your family. ie. you still have access to your families doctors, but you pay as things arise. $75 emergency room, get your prescriptions at Walmart, etc. But if something major happened, you'd be covered. From recollection, your family would pay around $150-200 for a 10k duductible, $300 for 5k, about 500 for $2k, etc. I'd suggest Assurant. They tend to carry the best networks for the cost.
Everything you heard is correct so far, i am a insurance broker and specialize in individual, Fatty knows what he is talking about it seems. You can get good coverage for half that in the individual market with a decent plan but pregnancy wont be covered unless there are complications so keep that in mind. Also a big thing is health qualification, that differs from group to individual as well, so if everyone is healthy you will be ok fatty might also need a zip code to get you an accurate quote. If you have never done individual before it can be overwhelming hit me up if you got any questions.
I bring up Assurant because they have the widest network, so the family can keep the doctors they have been seeing. BC/BS and Aetna's networks vary widely, and most agents don't divulge that.
Not true if your looking for Hospital then every hospital takes Aetna and BCBS and BCBS is #1 provider in Texas and has the largest network Aetnas is one of the largest, any doctor thats worth a damn usually takes both. you can call you doctor and ask em if your not sure. i represent every brand including assurant and i dont make more either way a client goes, whats best for a client is BCBS or Aetna i can promise you. Assurant specializes in temp coverage which is pointless because regular coverage can be cancelled any time and temp coverage is not qualified so it can affect pre-existing conditions when or if you get back on major medical.
You might want to look into all of those companies. BCBS is good coverage, but the prices vary depending on the network. Aetna just started doing individual cov'g and their prices are waaay undervalued. Expect a large spike on your people's policies in Aetna shortly. It is personal preference, but I like assurant, personally.
We have been representing Aetna for a few years now they do things that keep their policy's low cost and different prices for different networks is true but i never reccomend a client goes with a limited network or half ass coverage it just is not in their best interest. Out of curiosity Fatty are you in insurance? How do you know so much?
I had my own agency before, where I dealt with insuance and annuities. I work as a wholesaler for annuties now.
Ok, this is all great info. I had BCBS at my job in Galveston, and I was very happy. This is all temporary, so it's going to be more oh-****, but I won't skimp when it comes to my family. We're getting checkups out of the way this week before the company insurance expires. As far as health goes, we're all healthy 'Americans', that is to say my wife and I could probably lose 10-20 lbs, but we aren't obese. Actuarial chart wise, I may be in trouble; I have a really big frame for my height, so I've always tipped those scales even when I've had a six-pack going. Zip is now 76107. We're not married to any of our doctors at this point since we just moved up here anyway. I'd like to stay away from the quack shack, though. Ha ha, honestly, I didn't even realize. I signed on by habit. I may stay back with this one. I'm not a post-count w****, so whatever.
I haven't seen anyone mention this particularly, but there are companies (Assurant being one) that offer Short-Term Medical insurance which is meant to bridge the gap until the effective date of new coverage (as in the case of a mandatory Waiting Period at a new employer before medical benefits commence). Its very cheap and is basically just catastrophic coverage.
All true but it is not condidered qualified coverage and if you go more than 62 days with out qualifed coverage then pre-existing conditions wont apply for a year with you new coverage you get. and unless you know your exact date you get new coverage this is usually not a good idea. But some coverage is better than no coverage
