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Advice regarding layoff

Discussion in 'Insurance Issues' started by racingmonkey, Feb 11, 2009.

  1. racingmonkey

    racingmonkey New Member

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    May 11, 2008
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    My daughter is on an animas pump. My husband will be laid off shortly. I am a stay at home mom. What are we to do? COBRA is very expensive. We are not getting severance as the company is closing. What kind of options do we have to keep my daughter insured? What issues should we consider? Pre-existing conditions, etc. ? We have had the same insurance since diagnosis and it has covered everything pretty well, but we are concerned about how to pay for everything without a job.
     
  2. AmyMcCracken

    AmyMcCracken Approved members

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    If at all possible, it is best to keep continuous health coverage so you won't have to worry about PreExisting Conditions when starting your next policy. You may want to see about getting a private policy, but it may be tough with your daughter. You should also check to see if your state has a childrens health plan. I read a really good article today with links. I hope this helps.http://www.cnn.com/2009/HEALTH/02/12/ep.health.insurance.help/index.html
     
  3. Nancy in VA

    Nancy in VA Approved members

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    The COBRA will enable you to keep insurance for 18 months. Its expensive and I don't know what the DME and prescription coverage is on it, but it still may be cheaper than a potential hospitilization without insurance that is the risk without insurance.

    The key is one or both of you getting a job with benefits. Even Starbucks offers benefits to their employees that work 20+ hours. If your husband has trouble getting a job, then he can be home with the kids if you get one. If you get a job with a company and get insurance through the company plan, pre-existing conditions typically don't apply
     
  4. Ali

    Ali Approved members

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    See if you can buy into your current policy as an individual. It will probaly be costly. Check with your state insurance commissioner. The part time with insurance benefits if you can find it is good also. Look at all the costs. It is hard sorting it out. 1st-chcek with existing, 2nd-check with state, 3rd-look at part time work with insurance benefits, 4th compare all the costs, out of pocket, major etc. Sorry.:(Ali
     
  5. kdc1974

    kdc1974 New Member

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    Mar 13, 2009
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    Insurance when laid off

    Hi,

    We are in the exact same situation. Our daughter was diagnosed in April 2008 and my husband was laid off Jan 2009. We are in the process of trying to figure out what is best for us too. We live in Colorado and there is a Child Health Plan plus program here maybe your state has one too. Here in CO a family of five can make up to $4600/month, you pay a small registration fee and small co-pays for meds and Dr. visits. Also, with the new "stimulus" package there is a 65% discount on COBRA payments for those who have lost there jobs, so you would only pay 35% of the COBRA payment, that seems like a good program, they will discount your COBRA payments for 9 months. Also I have been told that there can't be a lack in coverage for more than 63 days on pre-existing conditions.

    Hope this helps!

    Kelly
     
  6. CAGrandma

    CAGrandma Approved members

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    The previous response is right on - with the government willing to pay up to 65% of the Cobra bill you HAVE to take it. You lose all sorts of options if you go without coverage for 60 or so days (the exact amount of time varies by state) not to mention the costs of one hospital visit (that I hope you don't need, but...just as an example, when my husband had outpatient surgery in the hospital - didn't even stay overnight - the bill was $14,000). And you can drop the COBRA whenever you want.

    Most states have some sort of health coverage for kids with chronic diseases which includes diabetes that works in addition to the basic health insurance. There are income guidelines (not assets) but the program frequently covers ALL diabetes supplies and drugs. The name varies from state to state, but it is usually a state based program through the dept. of health and welfare.
     
  7. Lisa P.

    Lisa P. Approved members

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    We left a job a couple months ago and don't have new ones yet. The job situation out there is really something, there are no Starbucks jobs, no Walmart jobs, none of the fallbacks (you know, where you say "I can always get a job doing X"). They've got Target stores opening with 200 jobs available and 4000 applicants.

    COBRA has been an absolute bear to work with, but we will not be able to get private insurance for Selah. Period. Ever. So it has to be a group plan, either through getting a job with family benefits, staying on COBRA, getting on a state plan (not welfare, just the state acts as the insurance company and you pay premiums to it) or starting our own business and getting a group plan for it. The third is our eventual plan, with a company out here you can get a group plan if you have two employees working regular hours.

    If you have been laid off you definitely should look at the 65% COBRA payment, but that's still very high if you have no resources. We used part of the money from the sale of the house to pay a year of COBRA to be safe. You need to get the paperwork going now, you can always back out before the final signature, it took us nearly two months to get the process through.

    You will still be paying about $400 per month in premiums and still have all the copays and etc. and if you miss a premium payment you lose COBRA. Talk to your insurance company, talk to your doctors, talk to the state. You will have coverage one way or the other, once you use up all your resources you have the state to fall back on for medicaid, but that's sure an unwanted last resort.

    Best of luck to you, with so many people in the same boat at least we're all paddling together. . . .
     

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