I’ve been furloughed since February and, as of today, my medical benefits ran out. I know that I can elect to apply for COBRA coverage, but my wife and I are trying to decide if that’s the best option considering how expensive it’ll be for me, or whether I should just be added onto her insurance plan, which would mean less income for her. I’ve read plenty about COBRA subsidies that are being provided by ARPA, but no one – not even my job’s HR company – seems to have any idea as to whether those subsidies mean my employer will be compensated for covering the sizable COBRA monthly payments or whether I will have to pay the COBRA payments out of my own pocket and then I’ll be compensated at a later date. Both my wife and I are in our mid-30’s and live in NYC.
I’ve done my fair share of searching around, but honestly, there’s a lot of legislative language that I just don’t understand. Does anyone at this point have a clear picture as to whether I’ll have to be paying for COBRA until a foreseeable end date?
submitted by /u/AntZealousideal2815
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I’ve been furloughed since February and, as of today, my medical benefits ran out. I know that I can elect to apply for COBRA coverage, but my wife and I are trying to decide if that’s the best option considering how expensive it’ll be for me, or whether I should just be added onto her insurance plan, which would mean less income for her. I’ve read plenty about COBRA subsidies that are being provided by ARPA, but no one – not even my job’s HR company – seems to have any idea as to whether those subsidies mean my employer will be compensated for covering the sizable COBRA monthly payments or whether I will have to pay the COBRA payments out of my own pocket and then I’ll be compensated at a later date. Both my wife and I are in our mid-30’s and live in NYC. I’ve done my fair share of searching around, but honestly, there’s a lot of legislative language that I just don’t understand. Does anyone at this point have a clear picture as to whether I’ll have to be paying for COBRA until a foreseeable end date?
submitted by /u/AntZealousideal2815 [link] [comments]Read Morer/HealthInsurance