COBRA: Enrollment Extension
Recently, Covered California announced an enrollment extension for people that are on COBRA in California. If you’re currently enrolled in COBRA, you may already understand the costs associated with this type of coverage: it can be expensive. This enrollment extension could save you some BIG bucks.
We’re not going to explain COBRA in this post, we’re just going to explain how this recent enrollment extension works. If you’re currently on COBRA, you most likely already know what COBRA is all about.
Below the icon is some important info. If you’re on COBRA, you’ll want to know about all of this. *NOTE: Keeping it simple, if you’re currently on COBRA, talk to us so we can help you sort it out.
Here’s what you need to know:
- This enrollment extension runs from May 15th, 2014 to July 15th, 2014.
- If you’re currently on COBRA, you still have the opportunity to enroll in an individual or Covered California (exchange plan), as long as you do it between the above-listed dates.
- This may save you some BIG MONEY, because COBRA extension coverage from your previous employer is expensive: you pay up to 102% of total premiums (your part + employer part + admin fees).
- During this time, enrollment is open so you can switch from COBRA to an individual or Covered California exchange plan (either of which may be considerably less expensive than your current COBRA coverage).
If you’re currently on COBRA, here are two important questions you want to ask yourself:
- Am I eligible for subsidies on the Covered California exchange? If this is a “Yes” you may really want to look into switching over to an exchange plan from COBRA.
- If I’m not eligible for subsidies at Covered California, would switching to a regular individual plan save me money? Even if you’re not eligible for subsides on the exchange, the individual coverage you can find might be considerably more affordable than your current COBRA coverage.
If you’re on COBRA currently, contact us so we can help evaluate your case. You could save some big money (thousands of dollars a year) by making a simple switch. Here is our CONTACT CARD. And you can call direct here: 424.442.0170.
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