Kevin Knauss: Health, History, Travel, Insurance
Posts related to COBRA or the continuation of an employer health plan after separation from the company, affordability, tax credit subsidy through Covered California.
However, even though COBRA may be more expensive than a Covered California plan with the subsidies, there can be good reasons to opt into a COBRA plan. The COBRA plan will be the continuation of the employer plan, usually without any employer contribution to lower the monthly health insurance premiums.
Covered California announced on May 15, 2014 that they will follow the HHS guidance and offer a Special Enrollment Period (SEP) for individuals and families currently on a COBRA health plan. However, people should be cautious before they leave their COBRA plan and jump into a Covered California plan for many reasons.
The new Affordable Care Act health plans offered through Covered California will help many people move out of an expensive COBRA plan and into an insurance plan with lower premiums. However, COBRA is considered “employer offered” health insurance that meets minimum essential benefits and value. Because of this many people and families on, or offered, COBRA will NOT be eligible for tax credits to reduce the monthly premiums of Covered California plans.
Seriously, can you fathom a middle income man paying over $8,000 per year for health insurance? From COBRA or HIPAA.
Truly, this gentleman has been and wants to be fully responsible for his health insurance. It has to be a humbling experience to discuss your medical and financial situation on camera to total strangers.
It seems as if she is being penalized because she is taking care of herself. While I am not given to conspiracy theories, I am beginning to smell a rat.
