Do you know how much COBRA (the insurance company) costs if you quit your work?

Question

If I work for SUSD (Scottsdale Unified School District), do you know how much COBRA would be monthly after I quit my job?

Answer 1

Assuming that your company contribution is about 75%....

COBRA is usually the total premium amount, plus 1% or 2%. So, what you pay now, per month, is probably about 25% of the total premium, while your employer pays about 75%... So, you'd be paying 101%-103% of the whole premium amount for COBRA.

Once again, this is just what I've found to apply in most cases. Some employers pay more or less while you're employed. You'd need to ask HR if you're unsure. Good luck.

Answer 2

Unfortunately, there really isn't a solid answer to your question without consulting your human resources department. COBRA is not a company, it stands for Consolidated Omnibus Budget Reconciliation Act and it's just a law that requires your employer to offer you health insurance after you leave. All insurance companies offer COBRA plans and the rates depend on the company, your employer, your plan, and all of the other factors that affect health insurance costs. My recommendation would be to ask your human resources department. They should have information to help you out.

Answer 3

COBRA is not an insurance company, per se. It's a program that lets you keep your current insurance for up to 18 months after termination of employment.

As for actual cost, you need to check with your Human Resources person because you'd be paying for the complete cost of your insurance.

Answer 4

I think Cobra is $600 a month or so. Here's the thing. You have 60 days retroactive to file for Cobra. So just fill out the application and keep it ready. Should you need medial attention, call ahead, notify COBRA, then go to the emergency room. That way you avoid the possibility of having to pay for COBRA and no end up needing it. If you find a job within those 60 days, and didn't need medical attention, you're in the clear and you saved yourself a lot of cash.

Answer 5

the correct answer is that the cobra coverage will cost exactly the same as your coverage when you were employed-except for the fact that you will be paying 100% of the premium. if, for example, you are single and your premium is $200 monthly, you will pay the entire premium. If your employer has to process payments from you and forward them to the health insurer, they can charge you an administrative fee but it isnt much.

Answer 6

Nope, but it's going to be like 102% of the full premium. How much exactly is going to depend if you have any dependents to be covered - if it's spouse & kids, or just you, or just kids with you, etc.

Answer 7

I know its ridiculously high.