Health Insurance coverage?

Question

I'm now covered by the employer's health insurance (with dental) plan. After I quit/leave current job, how does this health insurance coverage work? Before I'm hired by other company, what options do I have on the health insurance?

Answer 1

How large is your company?  If it has more than a set number of employees (I think 50, but I'm not sure) they have to offer you COBRA (I'm not sure what that stands for).  This means that they give you the optiuon to continue being covered through them for up to 1.5 years.  You have to pay them for it.  They may not charge you more than the cost to them plus 2%.

Answer 2

As others have noted, you may have COBRA rights, which would allow you to continue your employers' coverage -- but you have to pay 100% of the premium PLUS an administrative fee of 2%. So if your employer has been subsidizing 80% of your $100 premium your cost to continue this coverage would be $102 -- an increase of $82.

I've found some good information here too...

http://insurance.deal4-you.com

Best of luck.

Answer 3

Mike S is on the right track.  But check with HR.  If you work for a very small company, they may not have to comply with the federal laws on COBRA.

Group coverage is always better than individual coverage, so if you can stay on your employer's plan, you are much better off.

Answer 4

COBRA continuation. It's a federal law that allows you to extend your group coverage (same exact plan you had) for a premium cost. It allows you to extend your coverage up to 18 months, 36 months with a valid reason. Valid reasons are disability, school, etc.

You qualify for COBRA even if you resign voluntarily.

Answer 5

If the company is 20 or more employees they must offer you COBRA for 18 months. If it is under 20 employees at least in NJ they have a continuation law also. You will have to pay up to 110% of the premium. (It is there choice to charge you an administration fee of 10%, most usually just do 100%)