<< Back to all Blogs
Login or Create your own free blog
Layout:
Home > COBRA
 

COBRA

June 8th, 2018 at 05:29 pm

This is the first time that I’ve ever left a job and could afford COBRA. I received my COBRA notice from my previous employer, and it was $384.25, I added to my budget for the next pay period, next Friday to pay.

Wow, just being able to do this, shows that I’m on the right track. Even after paying this bill, and others, I still have $300 left to add to CC5.

This is such a great feeling.

8 Responses to “COBRA ”

  1. AnotherReader Says:

    When does the health insurance from the new job kick in? Did you know COBRA is retroactive? You have up to 60 days to apply for it, I believe. So if you were out of work for two weeks, your new health insurance kicks in after a month of employment, and you have no major medical bills during that time, you can choose not to apply for COBRA and save the money.

  2. Amber Says:

    Hi AnotherReader, the new insurance will be effective 8/1

  3. AnotherReader Says:

    You have 60 days after you lose your previous insurance to apply. It's retroactive. Say you fall and break your leg next week. You can apply for COBRA then.

  4. Amber Says:

    Duh, that's true I wasn't even thinking lol. I'll set the funds aside, for the next two months, if I don't use it for the COBRA payment, I'll throw it at CC5.


    Not sure why I didn't think of that, I work in benefits. I guess the excitement of having the money took over my thinking 😂😂😂😂

  5. Jenn Says:

    AR, What about the mandate within Obamacare that isn't removed until next year? Could Amber be penalized for not having health insurance for all 12 months? I don't know the rules.

    No matter what, no sense in parting with the cash until it's necessary.

  6. Amber Says:

    If I’m not mistaken I think you can go two to three months without coverage and this new administration to my knowledge is not enforcing the penalties, but I’m double checking

  7. Butterscotch Says:

    I believe you can go 90 days witthout coverage without being subjected to fines. Obama was well aware that many jobs don’t start insurance coverage right away so they built in that protection for people who might be switching jobs and can’t afford COBRA.

  8. rob62521 Says:

    You have done an amazing job of saving and paying off bills! So glad you are reaping from your success.

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]