Private Health Insurance Question (Part 2)

[billyfsu76]

I asked some questions on here back during open enrollment for health insurance last year. Thank you for all the help and responses. Between posting on here, meeting with an insurance rep., and reading online, I know way more about health insurance than I thought I would at 41.

At this point, I have one of the Blue Options plans that's available for Floridians through Healthcare.gov. I'm wondering if anyone with one of these plans ever does what I'm thinking of doing: basically got my appointments / bloodwork / physical out of the way for the year and thinking of canceling the insurance and then just re-newing it again at the end of the year for January 2019. I'm 41 and fortunately take no meds, have a clean bill of health from my yearly visit, no issues, etc. My dad had thyroid cancer and had it removed about 15 years ago. My new doc that did my physical thought it would be a good idea for me to see an endocrinologist after my yearly physical. The endocrinology office did more extensive bloodwork and also an ultrasound (all of which I paid for out of pocket due to my insanely high deductible - though I was able to get the in-network rates since I'm covered by an insurance plan). Thankfully, all came back well.

I'm going to do the yearly appt. with my dermatologist next month but, at that point, as long as everything is clear, I wouldn't go back to the doctor until January of next year. At $500/month, I am seriously considering just dropping the insurance for the remaining six months of the year and saving that $3,000 and just re-upping at the end of the year.

I realize I'll be taking a risk but my question is geared more toward the legality of doing this. Is there some rule that would prevent me from dropping it or, more importantly, from being able to just get the same plan again at the end of the year when it's enrollment time again through healthcare.gov?

Thanks again for any help that anyone can provide. I love using the Warchant as this type of community resource.

 

[jamnolfin]

My 28 year old daughter, healthy as can be. She changed jobs and it took 2 weeks before her new companies health insurance kicked in, she thought whats 2 weeks? In those 2 weeks she got hit with her 1st ever bout with kidney stones, $4,000. End of story.

 

[bryanscho]

My 28 year old daughter, healthy as can be. She changed jobs and it took 2 weeks before her new companies health insurance kicked in, she thought whats 2 weeks? In those 2 weeks she got hit with her 1st ever bout with kidney stones, $4,000. End of story.

Why didn't she use Cobra?

 

[Gonolz]

Why didn't she use Cobra?

If I recall correctly, you can actually elect to use COBRA retroactively for a certain period of time (I think it was 60 days) after your employment ends. Someone in that situation could elect coverage and just pay the full monthly premiums instead of medical bills.

After one of the times I quit a job, I elected COBRA and a few months later had emergency room, knee surgery, hospital bills, multiple Dr. appointments and rehab. The bill with no insurance would have been over $40k. I think I ended up paying $3-4k in COBRA premiums for a year of coverage instead.

 

[jamnolfin]

Why didn't she use Cobra?

I imagine she just thought what can go wrong in 2 weeks? I don't even know what Cobra is so I'm going to look it up.

 

[bryanscho]

I imagine she just thought what can go wrong in 2 weeks? I don't even know what Cobra is so I'm going to look it up.

Like above poster said, you have up to 60 days to select cobra and it is retroactive. Everyone, by law, receives the notification to elect if they are on an employer sponsored health plan. Pay a few hundred and save a few thousand...

 

[ncnole1975]

I imagine she just thought what can go wrong in 2 weeks? I don't even know what Cobra is so I'm going to look it up.

Cobra is a federally guaranteed program that means an employer must offer an employee the option of paying their own way for the continuance of their medical and dental insurance. It's good for 18 months and can be elected retroactively. Your daughter should be able to call her employer and get added back to their plan for one month. She will have to file the claim herself if she has already paid the medical bills and have the claim payment sent directly to her. If the bill is outstanding, she can call the hospital and get them to help file the claim.

 

[Hayduke GW]

I asked some questions on here back during open enrollment for health insurance last year. Thank you for all the help and responses. Between posting on here, meeting with an insurance rep., and reading online, I know way more about health insurance than I thought I would at 41.

At this point, I have one of the Blue Options plans that's available for Floridians through Healthcare.gov. I'm wondering if anyone with one of these plans ever does what I'm thinking of doing: basically got my appointments / bloodwork / physical out of the way for the year and thinking of canceling the insurance and then just re-newing it again at the end of the year for January 2019. I'm 41 and fortunately take no meds, have a clean bill of health from my yearly visit, no issues, etc. My dad had thyroid cancer and had it removed about 15 years ago. My new doc that did my physical thought it would be a good idea for me to see an endocrinologist after my yearly physical. The endocrinology office did more extensive bloodwork and also an ultrasound (all of which I paid for out of pocket due to my insanely high deductible - though I was able to get the in-network rates since I'm covered by an insurance plan). Thankfully, all came back well.

I'm going to do the yearly appt. with my dermatologist next month but, at that point, as long as everything is clear, I wouldn't go back to the doctor until January of next year. At $500/month, I am seriously considering just dropping the insurance for the remaining six months of the year and saving that $3,000 and just re-upping at the end of the year.

I realize I'll be taking a risk but my question is geared more toward the legality of doing this. Is there some rule that would prevent me from dropping it or, more importantly, from being able to just get the same plan again at the end of the year when it's enrollment time again through healthcare.gov?

Thanks again for any help that anyone can provide. I love using the Warchant as this type of community resource.

I’m not rich by any means and understand that $500/mo is a lot of money, but man, skipping health insurance to save that $3k is a risk I personally wouldn’t take.

 

[Wendy79]

I’m not rich by any means and understand that $500/mo is a lot of money, but man, skipping health insurance to save that $3k is a risk I personally wouldn’t take.

A car collision, kidney or gallbladder stones, possible heart attack...just because you're healthy today doesn't mean you'll be healthy tomorrow.

 

[jamnolfin]

Cobra is a federally guaranteed program that means an employer must offer an employee the option of paying their own way for the continuance of their medical and dental insurance. It's good for 18 months and can be elected retroactively. Your daughter should be able to call her employer and get added back to their plan for one month. She will have to file the claim herself if she has already paid the medical bills and have the claim payment sent directly to her. If the bill is outstanding, she can call the hospital and get them to help file the claim.

I read up on it. I never knew that.