by Guest » Wed Nov 10, 2010 12:43 am
I have insurance through my employer, an Anthem HSA plan, and my employer covers part of my premium. I am going to be quitting in a few months to relocate out of state. When I do that, is my insurance immediately terminated? Is it possible for me to keep my plan and take over the protion my employer was paying? Or would I have to get COBRA? And isn't that incredibly expensive??
I am hoping to get pregnant soon, and can not go without health insurance, because I am afraid I will be denied if I try to get on a new insurance plan. Which is BS that I could even be denied for having a baby!
Any input is appreciated!
I am hoping to get pregnant soon, and can not go without health insurance, because I am afraid I will be denied if I try to get on a new insurance plan. Which is BS that I could even be denied for having a baby!
Any input is appreciated!
Posted: Wed Nov 10, 2010 06:13 pm Post Subject:
If you have an HSA, you must also have a High Deductible Health Plan. You can keep your HDHP -- under COBRA, but if you move out of state, all of your care under that plan will be considered OUT OF NETWORK and will cost significantly more. Your HDHP will not cost more than the total both you and your employer were paying for it, except that you will be paying 100% of the cost, so your OUT OF POCKET expense will be higher, even "incredibly expensive" in your eyes, but thanks to COBRA, the coverage itself is NOT "more expensive" than it was when you were an employee.
"COBRA" is not a type of insurance or insurance company, as may people say or think, including the Commander-in-Chief, Mr. Barack (Time-for-Change-and-How-to-Wreck-Health-Care-in-America-by-Calling-the-Change-"Reform") Obama.
Under COBRA, continuation of your current HDHP (which as a group contract must include maternity benefits) will require the same coverage as you currently have. Changing to an individual HDHP outside of COBRA, you will possibly find that maternity care is excluded.
If you do not continue under COBRA, you are free to apply for ANY carrier's HDHP coverage, and some individual plans do include maternity benefits. If not, you can use your HSA pre-tax dollars to pay the claim anyway -- until the money runs out.
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