COBRA is a joke. Just another giveaway to the health insurance industry. They love it...You pay your premium for 20 years, then get divorced, and they get a free shot at dumping you just when you need help the most. This is another reason the OBAMA bill is necessary. The HMOS can stick COBRA up their ass. You are better off with nothing, go to public hospitals, and declare bankruptcy if you have an emergency.
Yes you do get taxed that 65 percent.. NOTHING IS FREE!!!..I work for one of the largest health care companies in this country.. and this is the most asked question...DAILY!!!! ask me!
In the state of california it is actually 110% of the normal premium that the employer was being charged..cal cobra is employer groups 2-19 employees..for an example.. If your employer was being charged $375 you will pay 10% on top of that if you elect cal cobra once you are laid off. If it is federal (20+) the most can be 102%.The stimulus is for 9 months once you elect, must be cancelled after 09/01/08.. and yes you will be 1099 for the 65% nothing is free, I know..I work for Anthem Blue Cross
That was awesome. Im about to get laid off so now I know exactly how cobra works. Is the 65% automatic unless you make more than 125k as an individual?
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