What do i do for insurance???

Question

My husband found out today that before March 10, the company he works for will lay off 550 employees. We are expecting our first child in May. The insurance through his company is what i have. When he is laid off, i am for sure the insurance will be gone. Any suggestions on what i should do? I am worried about the baby, and making sure everything goes ok. Do i try to get help through the state or what? I am not sure what to do... Just scared Please no stupid comments, as this is a touchy subject for us right now...

Answer 1

You should do everything you can to hang on to your group health plan. You will be offered COBRA. It will be expensive since you will have to pay your old contribution PLUS the amount the company used to pay before the layoff. This shocks many people since they don't realize how much their company actually contributed to the insurance plan.

If - for some reason - a COBRA extension of your health benefits is not available, you should contact your state medicaid offifce. They are often more flexible for pregnant women on income guidelines than they would be otherwise. Your state or county probably also has other programs for low cost health insurance for those who cannot obtain insurance otherwise.

I'm in Texas, and we have county programs, Medicaid, a high risk pool, and other programs. You should be able to do a search for programs in your state. If you are in a situation where you do not have health insurance, and cannot obtain it because of pregnancy - or another health condition - if you keep researching it, you will find help. If you post again, indicate which state you are in, and a local insurance agent may be able to help you more.

Answer 2

COBRA stands for Consolidated Omnibus Reconciliation Act. It was signed into law on April 7, 1986. COBRA entitles you and your dependents to temporarily continue group health insurance benefits that you would otherwise lose after losing your job, or after another qualifying event (includes being laid off). COBRA applies to employers with more than 20 employees. Before this law went into effect, when employees left a company, they and any covered family members lost their health insurance immediately because they no longer fit the definition of a full-time employee. If the employee or family member was ill, they were unable to get health insurance because they were already sick. COBRA allows the employee to buy health insurance back from the employer even though the employee no longer works there or no longer works full time.

You will be responsible for the premiums for this plan, however it can get you thru till the baby is born. It will also keep you active with coverage so if your husband gets a new job with insurance benifits your pregnancy will not be considered a "pre-existing" condition and not covered.

Answer 3

Should should be offered COBRA coverage. I believe you can continue it for up to 18 months or until new coverage is obtained through another job.

COBRA will cost more to maintain since you pay the actual group rate, which would equal what you currently pay plus the contribution the company pays. They also add an administrative fee, approximately 5%.

You should be able to look at your husband's check stubs to see how much your husband's company contributes and add that to how much comes out of his checks. You may also want to call your husband's HR department or benefits administrator and see if there is any way they may be able to tell you what the COBRA rate would be.

With a baby on the way, your best bet will be to find a way to continue paying the COBRA coverage, since it will definitely be cheaper than the cost of having a child without insurance.

Answer 4

I am a licensed insurance agent in Georgia. The company should offer Cobra to you folks. However, the premiums are usually very high. Depending on your income you may qualify for medicaid. Contact you local Dept of Family & Children services. If you shop for other insurance options, make sure you inquire as to whether or not they are going to cover the costs of normal childbirth. (Usually, about $9000) If they do, you may want to inquire about whether or not there is a waiting period before they will cover maternity. There are some policies that specifically help to cover the costs of maternity and childbirth, but often times they provide very minimal coverage. Some policies may not cover normal childbirth but will cover any complications that occur. A good insurance agent will be able to educate you about these things. If you would like more information.. pm me or email me [e-mail] I may be able to suggest a few companies that can help you.

Answer 5

Go with the COBRA...

There was a guy above me who said to that your husband should go out and find a new job now and get on their insurance.... I wouldn't recommend that as most insurance companies will not offer you insurance while you're pregnant (they would want to wait until after you had the baby) or they just may not cover it.

Answer 6

He knows now about the layoff, is he one of them ?
If he thinks so, he should get another job now, do not wait until there are 550 people out applying. Go now and get the new job before the "rush".
It usually takes 30 days to be on the new plan and it lasts for 30 days after termination (so if he stays , April 10 will be last day of insurance)
Get the new job now.

Answer 7

If he has insurance, they have to allow you to keep it (if you pay for it) for up to 18 months, I think. It's called COBRA. Since you are expecting, you might want to ante up and cover it until the child is born. After that, you can consider other options...or hopefully, a new job with benefits will be there. Here's one website that discusses how it works:

Answer 8

You will be offered the right to pay the premium and stay on the health insurance. It is part of the COBRA law that the employer will explain as part of the downsizing.

If you cannot afford that, check out Medicaid.

Answer 9

They will offer you COBRA - the opportunity to keep the insurance, but you'll have to pay the monthly premiums. I would ABSOLUTELY do that - as I have no doubt the baby will cost more than the premiums.

Answer 10

get a new one