Does it make sense for me to buy COBRA insurance?

Question

I recently fell off a horse and hurt my neck (luckily not majorly so I do not need surgery). I had to have a MRI which costs $3500. I currently have Blue Shield and my deductible is $2400 and my monthly payment is $250. Just trying to figure out if I should buy COBRA insurance for $570 a month. Seems steep but it may be worth it.

Answer 1

Yes, you now have a pre-existing condition that will jeopardize your insureability.  Purchasing the COBRA will protect that for a year.  Keep the coverage even though it may be expensive.  

Answer 2

How long do you plan on not having insurance benefits through a new employer?

If you're going to keep riding, you should probably take the COBRA, if it's not too late.  But you don't say when you're leaving your job, or when you'd need to start paying for the Blue Sheild through Cobra.

Answer 3

"Heard COBRA is bad"....it's the same exact plan.  COBRA just allows you to keep the same coverage.  There's nothing BAD about it.

Sounds like you already hit your deductible and since you just hurt yourself it sounds like COBRA is the way to go.  Another plan might be skeptical about covering you and if you find out in a couple months you did do something or need to get therapy you'll be glad it's covered.

I can't follow the time line here but I'm assuming you're already on COBRA or that they've extended your coverage.  Because if you left May 31st it's already too late to elect it otherwise.

And you can keep it up to 18 months...not a year.

Answer 4

Well there's definitely more to think about than just whether your monthly premiums will be more than the cost of the actual treatment you need....if you don't get the COBRA (or some form of insurance, like an individual policy that you can get from Blue Shield or any other local insurance if it's cheaper) you'll end up having a lapse in coverage and may have trouble getting treatment because your conditions may be considered "pre-existing conditions" when you do end up getting insurance through a job or something. If that happens you could have to wait up to 12 months before they'll pay anything for that treatment.

Answer 5

If you need help with bills. Please visit this site

http://www.mybenefitsplus.com/40617802 they are a discount health plan, that might be what you are looking for.

Good luck!

Answer 6

Honestly, no it's not worth it. You obviously need insurance given your situation, but use COBRA as a last resort. In my estimate Blue Shield is better. COBRA is more for people getting out of college that are no longer under there parent's insurance.

Not a bad thing to be on except for the costliness of it, that of which this program is notorious for.

Answer 7

Are you still employed and your Blue Shield is through your employer?  Why then would you think of COBRA?

Answer 8

I've heard a lot of BAD things about COBRA!!! I'd stay away