Hey folks, any ideas on how I can keep these magical pills rolling in while my company is still in it's fledgling stage? I'm a bit nervous as i've been in PCRU for 4 1/2 years straight and would hate to lose it because of stupid insurance running out. It's timed so I will have a few months left after it ends.
COBRA ins. running around this month
Posted 08 June 2011 - 01:09 AM
I don't know how long you have been with COBRA but I was told you can keep it going after the term but the payments go up. We are right there with you looking to see if we can keep it soon in the fall. Otherwise see if you qualify for any kind of state aide?
Posted 08 June 2011 - 10:46 AM
Hi: I can certainly feel for you and any others who are paying COBRA. We had to do it when my husband lost his job about 5 years ago. We had no choice until he found another job. We could not risk the loss of insurance, therefore, we had to go from his present company into COBRA until his new job started where we could transfer from COBRA to new Insurance. I am writing all this in case anyone else does not know what to do in the event of something like this. You cannot have a lapse in insurance for eveything to continue.
This might help too. I have a post way back there somewhere about what we did. We had to figure out what it would cost us for approximately 1 year for COBRA before my husbands present job would no longer be there. We took enough money out of his IRA account to be able to pay for COBRA for 1 year along with what the taxes would be that we had to pay to IRS for early withdrawal at tax time. I had it figured out just right, and he was only out of work for less than 9months. We had the tax money, and a little extra to catch up on bills being we no longer had to pay the COBRA.
Everyone's situation is different, but you have to look at your financial situation to see what will work best.
If all else fails, then I guess you do have to look for State Help.
I wish all of you well to solve your problem.
1 user(s) are reading this topic
0 members, 1 guests, 0 anonymous users