I self covered for 2 years. We went with a high ($1000) deductible plan and an HCA to cover lower cost medical expenses. Both my wife and I where in pretty good health at that time so I was just trying to cover catastrophic illnesses such as heart attach which could wipe out everything you own if it where completely out of pocket. It worked out as we never needed to make a claim and, at least at the time, it was cost effective. I don't know if they even offer such plans these days with ObamaCare et al.

I've been in that gap for a long time. It ends next year. My cost has been nearly $3k/month for two of us age 64. That was way, way more than I planned originally and its been a real struggle to make it happen. I didn't even consider going naked. I saw what my total bill was from a serious accident awhile back. You absolutely should elect COBRA when it happens.

When my pension plan bailed on my health care and wanted me to "partner" with a broker who wanted $800 a month with a $7500 deductible, I sought coverage elsewhere.
By using "temporary" health care policies from United Health Care and combining that with another policy that covered the deductible, I dropped my monthly cost to $300 a month. Was it good coverage? Nope. But it was something. I have not seen a doctor in 3 years. But, there is light at the end of this tunnel. Medicare and a Supplement Plan with great coverage kicks in 11-1.
Full checkup will be my plan in November!

I was self employed for 22 years. Even though I provided a small group medical insurance plan for my employees I never got on it myself. Big mistake there. My medical insurance was through the plan provided by the companies my wife worked for.

When she got laid off and I no longer had employees I had COBRA for 18 months from her last employer.

When I needed to start looking for insurance I went through Connect for Health Colorado. The least expensive was about $800 a month for some of the most amazingly shitty coverage you could imagine. Couldn't afford that.

Ended up taking a job that I don't love, full time, so I could get back on a decent health care plan that is affordable. Damn, it's hard punching a clock and having a boss(es) after that long doing my own thing.

I got three more years till Medicare kicks in.

You can also look at the Fed's "Marketplace" and see what is offered in your state.

Healthcare.gov

I found my Blue Cross Blue Shield plan there.

Even if you have a good broker, it might be worthwhile for you to see what that site comes up with. With the "Marketplace" info and your COBRA plan, you'd have good context to compare your broker's recommended plans.

I just turned 63 last month. I originally thought I might retire at 63 due to several nagging health problems.

My company needs me to support some equipment in the state at for at least 6 more months. If my company stops supporting this equipment then a layoff is possible.

I've looked around at some health care plans a little. I suspect I'd go with Cobra given I now have less than 18 months to go before I'm eligible for Medicare.

What a coincidence...just as I type this I just got a service call to repair one of these machines(check sorter).

i lost my job in february. we went thru “health sherpa” and got an obummer care plan for $600.00/mo for the two of us...as good of coverage as we had and WAY lower than cobra....i don’t know why anyone would go cobra unless they had no choice. cobra is a great stop-gap if you need it but it is super expensive because you pay both the employee portion as well as the employer portion...you pay it all!

I was lucky in that I could stay on the company insurance but I would have to pay 100% of the premium . It comes to about $875 / month for the two of us , which doesn't sound bad compared to what I'm seeing here . Another two and a half years till Medicare kicks in .

quote:

Originally posted by 6guns:
h2oys, I understand that, but also believe an out of state broker can become licensed in another state to provide insurance with minimal effort....so I've been told. I wonder if that was part of the change with obamacare?

As for COBRA, I am considering that, but I thought the max time was 18 months? What are the conditions that allow for 36 months? Thanks.

Check into your State Obamacare. If you're going to be laid off, that means you'll have low income. Obamacare has subsidies that trigger from 150% of poverty level to 400% of poverty level. For a couple, that is $25,800 to $68,960.

Some states like California are even more generous.

Don't take Cobra as it won't be subsidized and it's expensive. If you're on it, you can't apply for obamacare until the cobra period runs out. Simply not paying the cobra premiums won't get you into obamacare.

You can do it on your own. For my first year, I did contact a few agents and I kept getting a lot of call backs. That's how they make money and they need to make money. I had to screen for someone who I think I can work with. She did turn out to be really helpful.


Good luck.

My company was sold out and I, along with many others, something like 95%, were laid off.

I am 2 years and a few days from going on Medicare.

I don't dare go without health insurance since I have a single stent. Fortunately I never had a heart attack, a blockage was found during a routine physical. Lucky me.

After looking at all options I ended up going on the Health Market thing. I actually have a decent policy for now.

The Covid crap has just killed the job market for me. Fortunately I live very modestly and am able to get by comfortably enough.

I've been paying 100% as a self employed business for 30 years and will continue to do the same between retirement and 65. $20,000-$25,000/year for my wife and I with a $13,000 deductible.

Looking to do this next year for wife when I retire.

I have just completed the very same gap, as I was laid off at 62+. I have paid my own healthcare for 13 months. Now approaching my first month of switching to Medicare. I agree w/others that COBRA may be your bet bet for the first 18 months.

I used the Healthcare.gov site to find what was available in my state and learned state by state the plans and choices vary. Quite upset about Obummer Care when I learned the closest thing to my PPO was $950 more a month ($1400 vs $425), than COBRA, for twice the out of pocket deductible. The subsidy reduced it to a similar payment amount of under 450, and for those who don't know yet, to some extent you are subject to taxation on the subsidy!! Working simple p/t and am withdrawing savings rather than earning a larger amount working and getting more on the w-2. The more you earn, the less subsidy you'll get and your circumstances could be better or worse. In my case the .gov site was definitely more money, for less. Shocker, I know!!

Good luck with your search, hopefully the company plan was not a disappointment and you can stay on.

Talked to HR today and heard COBRA for me would be about $800/mo. Yikes! Still waiting to hear back from another broker. I'll check out the gov site, but since I'll have full wages for 2020, I suspect I won't get the best rates.

I appreciate y'all's thoughts and suggestions.

Damn, I'm feeling very fortunate. My current insurance is through my wife, from a local utility.

I'm 63 and my wife is 54, so for the next few years I have great coverage. I plan to keep on plumbing thru that time period, hoping nothing much changes!