How does my planned implementation of the COBRA Bridge Strategy look?
I was terminated from employment on 04/01/2022 with health, dental, and vision insurance coverage ending on 04/30/2022, the end of the month. The state is North Carolina which unfortunately has not expanded Medicaid. I do not know how much my income will be this year so this is assuming Marketplace plans at full price without Premium Tax Credits or Cost Sharing Reductions. COBRA Vision is $6.61/Monthly which seems worth it since it would cover some of the annual eye exam fee and has $130 contact lenses annual allowance, so at the minimum, I plan on electing COBRA Vision. My annual eye exam scheduled from a year ago is on 05/03/2022. I will have to pay cash/without insurance and then file for reimbursement after electing COBRA Vision. COBRA Dental PPO is $50.57/Monthly so unless I have a dental emergency in the next 2 months, I will not be electing COBRA Dental. COBRA Health insurance plan details: Open Access Plus with HSA COBRA Monthly Premium: $678.92 Deductible: $1,750 with $1,750 met and $0 remaining Coinsurance in-network: 20% after deductible is met Out of pocket max: $5,750 with $1,975 met and $3,775 remaining It is quite unfortunate timing that I just met my high deductible. I expect to have 2x $150 psychiatrist visits and $150 in prescription medications over the next 2 months. Paying $450 cash/without insurance would cost less than $1,450 (2 months COBRA Health premiums + 20% coinsurance of $450).
04/01/2022 Last day of employment 04/30/2022 Last day of health, dental, and vision coverage 05/03/2022 Annual eye exam 06/29/2022 Last day to elect COBRA or Marketplace (60 days from last day of coverage). Depending on medical bills from 05/01/2022 to 06/29/2022, elect COBRA Health for retroactive coverage and/or elect Marketplace. Elect COBRA Vision regardless. 06/30/2022 Lapse in health coverage if I did not elect COBRA Health. Try my best to not need medical care on that day. 07/01/2022 Start of Marketplace coverage if I elected Marketplace
submitted by /u/bronzewtf
[link] [comments]How does my planned implementation of the COBRA Bridge Strategy look? I was terminated from employment on 04/01/2022 with health, dental, and vision insurance coverage ending on 04/30/2022, the end of the month. The state is North Carolina which unfortunately has not expanded Medicaid. I do not know how much my income will be this year so this is assuming Marketplace plans at full price without Premium Tax Credits or Cost Sharing Reductions. COBRA Vision is $6.61/Monthly which seems worth it since it would cover some of the annual eye exam fee and has $130 contact lenses annual allowance, so at the minimum, I plan on electing COBRA Vision. My annual eye exam scheduled from a year ago is on 05/03/2022. I will have to pay cash/without insurance and then file for reimbursement after electing COBRA Vision. COBRA Dental PPO is $50.57/Monthly so unless I have a dental emergency in the next 2 months, I will not be electing COBRA Dental. COBRA Health insurance plan details: Open Access Plus with HSA COBRA Monthly Premium: $678.92 Deductible: $1,750 with $1,750 met and $0 remaining Coinsurance in-network: 20% after deductible is met Out of pocket max: $5,750 with $1,975 met and $3,775 remaining It is quite unfortunate timing that I just met my high deductible. I expect to have 2x $150 psychiatrist visits and $150 in prescription medications over the next 2 months. Paying $450 cash/without insurance would cost less than $1,450 (2 months COBRA Health premiums + 20% coinsurance of $450). 04/01/2022 Last day of employment 04/30/2022 Last day of health, dental, and vision coverage 05/03/2022 Annual eye exam 06/29/2022 Last day to elect COBRA or Marketplace (60 days from last day of coverage). Depending on medical bills from 05/01/2022 to 06/29/2022, elect COBRA Health for retroactive coverage and/or elect Marketplace. Elect COBRA Vision regardless. 06/30/2022 Lapse in health coverage if I did not elect COBRA Health. Try my best to not need medical care on that day. 07/01/2022 Start of Marketplace coverage if I elected Marketplace submitted by /u/bronzewtf [link] [comments]Read Morer/HealthInsurance