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COBRA

June 9th, 2018 at 12:29 am

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.

Posted in Uncategorized | 8 Comments »

8 Responses to “COBRA ”

  1. AnotherReader Says:
    June 9th, 2018 at 12:45 am 1528505105
    1528505105

    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:
    June 9th, 2018 at 12:55 am 1528505758
    1528505758

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

  3. AnotherReader Says:
    June 9th, 2018 at 01:13 am 1528506819
    1528506819

    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:
    June 9th, 2018 at 01:29 am 1528507793
    1528507793

    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:
    June 9th, 2018 at 03:32 am 1528515133
    1528515133

    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:
    June 9th, 2018 at 10:23 am 1528539806
    1528539806

    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:
    June 10th, 2018 at 03:18 pm 1528643932
    1528643932

    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:
    June 10th, 2018 at 07:01 pm 1528657298
    1528657298

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

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