Planning on taking a break for a few months. Trying to figure whether I should enroll in Cobra or try to get a new plan via the state exchange. The ones I looked at, which are similar in coverage to current plan, don't seem much cheaper than cobra premium. Should I got through hassle of enrolling in New plan for 4-5 months or just stick with current plan. I am on some prescription medications and need to continue that during the break. Amy pointers or opinions would be helpful.
I believe you can sign up for cobra retroactively. Aka if something comes up you can still enroll. Also I think there might be short term insurance not through the exchanges. That used to exist.
This is true.
Also you don't need to pay Obamacare penalty if you missed coverage for only 2 months (1 day of coverage, covers the whole month)
MSFT cobra is really expensive but for the coverage that you get, it's actually quite well priced. If you actually use it then it might make sense.
I think it more point to think of is how much deductible I have already paid. I have some expensive prescriptions to keep taking during the next few months. And since I have already paid close to most of my deductible, I am going to take cobra. If I switch to another plan, I will have to start the deductible from zero. This way even if the premium is higher, from the second month the insurance will pay 90% of my $400 monthly prescription
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Trying to figure this out myself. I am reasonably healthy, only have two prescriptions so do not need a great plan, just enough to cover me if I get hit by a car. I suggest working with a broker, I called one and they can help you navigate this minefield. cobra was too expensive for me personally as I don't need that level of coverage.
On the wahealthplanfinder site, when you log into your account click on the find a broker link