cobra

[badbadbrain67]

I was let go from my job because they could only hold my job for so long. I am now paying a large amount per month for COBRA.
Someone just informed me that I might be eligible for a premium reduction. I was let go in June 2010, and from what now understand the cut-off
date was May 31 2010. In other words, if you were let go after may 31, 2010 you are not eligible for a premium reduction.
Dd I really miss it by just a few days? I mean, the way things are going I probably did. I can't seem to get a break.
Does anyone out there know anything about this? I had no idea. COBRA of course does not let you know about this when you apply.
Help please!!!


Victor

[HeadCase2]

Hi Victor,
  I'm sorry to hear about your insurance situation.  A quick google of "cobra extension" brought up the following info:
"The federal government had been subsidizing 65% of COBRA premiums as part of the American Reinvestment and Recovery Act since March of 2009. This subsidy was designed to provide aid to the millions of Americans that have lost their jobs in the recent recession. In Late December 2009, The President signed the Fiscal Year 2010 Defense Appropriations Act which extends the eligibility period for the COBRA premium reduction for an additional two months (through Feb. 28, 2010) and the maximum period for receiving the subsidy for an additional six months (from 9 months to 15 months). "

  A quick google of "cobra premium reduction" brought up several hits.  Check out the following site, COBRA Premium Reduction fact sheet,  from the US Dept. of Labor:

http://www.dol.gov/ebsa/newsroom/fscobrapremiumreduction.html

 I hope this will get you started.  To me, in a counry as well off as ours, that it really sucks that the insurance system seems geared toward removing coverage from those who need it most.  Good luck to you.

Regards,
  Rob

[nanramone]

I think you missed the cut off date. This subsidy was not extended because Republicans and fiscally conservative Democrats would not back an extension of this subsidy. The country simply can not afford it...or so I've heard.

I pay full premium for my COBRA benefits, which will expire in March of 2011. At that point, I will join my state's high risk insurance pool at a cost of $675 per month with a $5000 deductible. I have been unemployed for over one year, and have depleted 1/4 of my life savings. I am attending classes at a community college in hope of retraining to find a job. I am single, and have no family that can help me. Welcome to America!

But in this country, there is always hope for change! That keeps me going!  :-)

[Jim Scott]

Because I do not view health insurance as a 'right' it's tempting to initiate a lively discussion about why COBRA was not part of the unemployment benefit extension bill that went into law over the summer and extends unemployment benefits until November 30th (a total of 99 weeks).  Suffice it to state that the cost to taxpayers for subsidizing 65% of the medical insurance premiums for almost 10% of the U.S. workforce was definitely a factor.  I'll refrain from offering an opinion on that reality as this is beginning to veer toward a 'political' discussion and that would not comply with the purpose of these forums.  However, my PM box is always open, should any member wish to discuss the issue 'off the record'.  

However, I can sympathize with Victor's dilemma and hope that he can find employment (and medical coverage) soon.  Barring that, I hope that Victor can apply for his state's Medicaid program to secure at least a modicum of insurance coverage, albeit, expensive and probably inadequate, but better than nothing at all.  

Jim

[PaulaT]

I sometimes wish these things were made more aware to the public. I was laid off during that time and could have benefited from the Cobra assistance. But because I didn't know about the government assistance and the insurance premiums for Cobra were a little high, I ended up going without insurance for a while.