Individual policy for diabetic during gap in job

Posted: Tue Jul 17, 2012 12:02 am Post Subject:

I think one of the first things that you need to do is to find out whether your new employer offers group medical benefits. As a diabetic, you can't be without medical coverage.

In the meantime, during the hiatus between jobs and potential coverage, you likely have a couple of options:

1. COBRA Continuation. If your group plan has 20 or more employees, you are subject to COBRA continuation for medical benefits. This will require an election form be filled out by you and can include continuation of coverage for your dependents, if any, as well. Get ready for a little premium sticker-shock, as your employer won't be paying any more premium on your behalf. The premium rate for COBRA continuation can be up to (and typically is) 102% of the group rate.

2. State Continuation. This is commonly referred to as "Mini-COBRA" and is your state's "take" on the federal COBRA Rules. State continuation is normally very similar to COBRA continuation in terms of rules.

3. State "Portability." For those not subject to COBRA continuation, many states have their own methods by which people can stay insured. Not knowing what state you're in, it's impossible to address this right now..

In terms of your ability to secure an individual policy, that' not going to happen until 2014, unless ObamaCare gets repealed. The diabetic condition is a "pre-existing condition" and as such, I don't know of any company that is going to issue coverage to a diabetic on an individual basis. Unfortunate, but true.

Your best bet is to stay insured under an employer-sponsored group plan or through your state's continuation or portability rules.

InsTeacher 8)