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COBRA Insurance: How does it work ?

Chalanachithram.com DB » New TF Industry Related » Archive through December 22, 2018 » COBRA Insurance: How does it work ? « Previous Next »
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Cool_indian
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Posted on Friday, December 21, 2018 - 10:57 pm:       


King:

GM?




Benefits ante GM ena. Ledu babai
 

King
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Posted on Friday, December 21, 2018 - 10:13 pm:       


Cool_indian:


GM?
 

Cool_indian
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Posted on Friday, December 21, 2018 - 09:46 pm:       


Goonda:

i suggest to go with COBRA as your employer is paying portion... don't go find insurance at a market place.. 1) either its going to expensive for the same coverage you are getting 2) you have to settle for less coverage..




Thanks babai. The prices are way to high if I have to pay from my pocket and go with an individual plan. They are robbing on the deductible.
 

Twotown
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Posted on Friday, December 21, 2018 - 08:31 pm:       

Severeance ante same before padathadhi aa time varaku ..
 

Goonda
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Posted on Friday, December 21, 2018 - 08:30 pm:       


Cool_indian:


i suggest to go with COBRA as your employer is paying portion... don't go find insurance at a market place.. 1) either its going to expensive for the same coverage you are getting 2) you have to settle for less coverage..
 

Happydays
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Posted on Friday, December 21, 2018 - 08:17 pm:       

ok..i misread it..usual ga ayithe..maname kattali..nee case different.
Chiru,Veturi,SPB,Ilayaraja,Jandhyala,Vamsi,K Viswanath,Sachin,Florida,Rohit Sharma
 

Biggboss
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Posted on Friday, December 21, 2018 - 07:36 pm:       


Saarang:

He is getting a severance...which means employer will pay their portion for a certain duration.




ok, I missed the severance part, usually when you leave the company they offer COBRA but you have to pay the employers portion
 

Cool_indian
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Posted on Friday, December 21, 2018 - 07:34 pm:       


Biggboss:

no this is not true




It clearly says in my documents they will pay their portion for the severance period (X months). Either they will pay me the cash if I dont opt for COBRA or if I chose to opt in, they will pay for upto the x months (if less than X months, I can cash out the remaining)
 

Saarang
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Posted on Friday, December 21, 2018 - 07:32 pm:       


Biggboss:

Cool_indian:

they will continue to pay their portion

no this is not true




He is getting a severance...which means employer will pay their portion for a certain duration.
 

Biggboss
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Posted on Friday, December 21, 2018 - 07:28 pm:       


Cool_indian:

they will continue to pay their portion




no this is not true

you will have to pay the employer portion of the insurance and this will get you the same coverage you had before
 

Cool_indian
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Posted on Friday, December 21, 2018 - 07:25 pm:       


Happydays:

same network, same doctors..everything will be same..kaani..you have to pay lot more than you are paying through your employer.




Idem condition. How do they determine the delta? I thought it is the same. They pay their part(from the severance) and I pay my part as if nothing happens. Kada? I need to check this
 

Happydays
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Posted on Friday, December 21, 2018 - 07:23 pm:       


Cool_indian:

If I opt for COBRA, will I get Insurance through the same insurance provider (CIGNA etc) or will it be processed through another 3rd party. This is important for my current doctor network, prescriptions etc.




same network, same doctors..everything will be same..kaani..you have to pay lot more than you are paying through your employer.
Chiru,Veturi,SPB,Ilayaraja,Jandhyala,Vamsi,K Viswanath,Sachin,Florida,Rohit Sharma
 

Cool_indian
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Posted on Friday, December 21, 2018 - 07:21 pm:       

As a part of my severance, my employer is giving COBRA (mandate)? In the last 20 years, I have never been in this situation, I want to know how it works.

Option 1: They are saying I can opt for COBRA and they will continue to pay their portion and I pay mine and nothing changes until whatever time I am eligible.

Option 2: They will give me the money for the whole period and I can go buy insurance or tag along spouse's insurance (She herself is on COBRA :-))

If I opt for COBRA, will I get Insurance through the same insurance provider (CIGNA etc) or will it be processed through another 3rd party. This is important for my current doctor network, prescriptions etc.

If I want to buy external insurance with the money they give me, can I get short term insurance(2-3 months) through the providers (Individual plans) or Healthcare.gov?

TIA

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