Health Insurance and COBRA

[queasy27]

I don't want to ask my HR department about this but figured maybe someone here has expertise in the area. My research online indicates that the answer is no, but I'm suspicious that there may be exceptions or small print somewhere.

I'm planning to quit work later this year but will need COBRA until Fall 2016 when I become eligible for Medicare. I want to make sure that my insurance carrier under the provisions of COBRA is not allowed to either drop me or raise my rates.

I appreciate the help.

[nitakk]

COBRA continuation coverage is for 18 months after your termination date. You will have to pay the full amount of the premium unless your former employer has agreed to pay a percentage. Your coverage is the same as active employees and if they get a rate increase at renewal with the insurance carrier, so will you. They can also charge you a small percentage of your premium as an administrative cost. Make sure your dates are correct so you have no lapse in coverage before Medicare kicks in.

[Golden Years]

I would talk to your HR department if you are with a large corporation. Most are very good and will do what is in your best interest as while preventing them from being sued. I am always surprised when people call our HR what is available and the lengths they will go to assist employees.

[LyndaS]

I don't want to ask my HR department about this but figured maybe someone here has expertise in the area. My research online indicates that the answer is no, but I'm suspicious that there may be exceptions or small print somewhere.

I'm planning to quit work later this year but will need COBRA until Fall 2016 when I become eligible for Medicare. I want to make sure that my insurance carrier under the provisions of COBRA is not allowed to either drop me or raise my rates.

I appreciate the help.

queasy, something you might want to check out when the time comes... Cobra is for 18 months but "retirement" can extend Cobra for 36 months. I would guess this may depend on the company but I know some companies offer this.