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Health Insurance Between Jobs

2,107 Views | 10 Replies | Last: 2 yr ago by Noble07
infinity ag
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Hello,

I currently work at a large company and I have not been happy with my job for a long time. Today I heard that there would be a re-org and I am being moved to work on things that move me even more away from my core competency of software product management. I am not going to waste my time on worrying about "project funding" and "operations" which basically means sit in meetings all day, show some slides and get nothing achieved.

So I am thinking of quitting, taking a short break and putting all my energy on finding something else, either here or remote. I have been off and on looking for a year and came to several final rounds but it did not materialize. This casual job search doesn't seem to be my thing so I need to focus on it, and learn some additional skills with my time.

My wife is working too and has health benefits, but she is talking about switching too. So for now, even if I leave, we will have coverage through her job.

I just want to know that in case we both leave (unlikely but want to plan for), how do we get health coverage? I have never been in a situation where I didn't have health insurance, so wanted to know what to do and what the ball-park costs are for a family of 4.
Sims
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AG
I used Revolt Healthcare last year and for a portion of this year. I was laid off (Covid) in 2020 and did some contract work for several months until I was back on an employer plan. Revolt worked for us for that gap. It was my wife and I plus 3 kiddos. The only plan related increase in cost I had was medication but Jason suggested an alternative (goodrx I think) that got me back to where I was before cost wise.

Jason@RevoltHealthcare.com
Revolt Healthcare
Ark03
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AG
infinity ag said:

Hello,

I currently work at a large company and I have not been happy with my job for a long time. Today I heard that there would be a re-org and I am being moved to work on things that move me even more away from my core competency of software product management. I am not going to waste my time on worrying about "project funding" and "operations" which basically means sit in meetings all day, show some slides and get nothing achieved.

So I am thinking of quitting, taking a short break and putting all my energy on finding something else, either here or remote. I have been off and on looking for a year and came to several final rounds but it did not materialize. This casual job search doesn't seem to be my thing so I need to focus on it, and learn some additional skills with my time.

My wife is working too and has health benefits, but she is talking about switching too. So for now, even if I leave, we will have coverage through her job.

I just want to know that in case we both leave (unlikely but want to plan for), how do we get health coverage? I have never been in a situation where I didn't have health insurance, so wanted to know what to do and what the ball-park costs are for a family of 4.
This is what COBRA is designed for, and it will generally last up to 18 months. It is a continuation of your prior health plan, administered by your former employer, but is generally unsubsidized (your premium will be the sum of the employer and employee cost plus a 2% admin charge). You'll have 60 days to enroll in COBRA from when you receive your COBRA notice, and coverage is retroactive back to the date you lost coverage. So, you can even wait and see if you need coverage, if you think you might be going to get on a new plan within a couple of months. Or, if you think you may not have coverage through another job by the time that window is closing, you can shop around and enroll in COBRA or other coverage.

If something happens while you don't have insurance and you need medical care, tell the provider you are in a valid COBRA window, call up the administrator, pay the premiums back to the date you lost coverage, and then have the provider file on your insurance.

HOWEVER, you'll need to take into account the fact that your loss of coverage will start the clock for the 30-day life event in which you should be able to be added to your wife's coverage. So, you'll need to pick one, then if you both lose coverage as a result of her loss of a job, you'll have a new COBRA window.

There are other alternatives, such as on the exchange, which may or may not cost more than COBRA continuation. I know much less about those.
Ark03
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AG
Sims said:

I used Revolt Healthcare last year and for a portion of this year. I was laid off (Covid) in 2020 and did some contract work for several months until I was back on an employer plan. Revolt worked for us for that gap. It was my wife and I plus 3 kiddos. The only plan related increase in cost I had was medication but Jason suggested an alternative (goodrx I think) that got me back to where I was before cost wise.

Jason@RevoltHealthcare.com
Revolt Healthcare
This is not health insurance. You pay "premiums" into a pool of unregulated assets, then a board of your peers decides what they pay out, especially for major costs, frequently subject to all kinds of exclusions. I would consider some type of catastrophic coverage on the healthcare exchange, rather than take on the risk of something like this and hope they do the right thing when you really need it.
Sims
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AG
Ark03 said:

Sims said:

I used Revolt Healthcare last year and for a portion of this year. I was laid off (Covid) in 2020 and did some contract work for several months until I was back on an employer plan. Revolt worked for us for that gap. It was my wife and I plus 3 kiddos. The only plan related increase in cost I had was medication but Jason suggested an alternative (goodrx I think) that got me back to where I was before cost wise.

Jason@RevoltHealthcare.com
Revolt Healthcare
This is not health insurance. You pay "premiums" into a pull of unregulated assets, then a board of your peers decides what they pay out, especially for major costs, frequently subject to all kinds of exclusions. I would consider some type of catastrophic coverage on the healthcare exchange, rather than take on the risk of something like this and hope they do the right thing when you really need it.


I suppose I should have added, ymmv.
88Warrior
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I used Pivot Health to cover the month before my new employer's coverage picked me up. High deductible but fairly reasonable at around $550 or so for three of us. You can cancel anytime.
Wiggletrace
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AG
I am also seeking health insurance for me and my family; however, I am type 1 diabetic and the cost is astronomical.

I have a wife and 2 kids to cover as well that in good health.

Any recommendations are appreciated.
histag10
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AG
Sims said:

I used Revolt Healthcare last year and for a portion of this year. I was laid off (Covid) in 2020 and did some contract work for several months until I was back on an employer plan. Revolt worked for us for that gap. It was my wife and I plus 3 kiddos. The only plan related increase in cost I had was medication but Jason suggested an alternative (goodrx I think) that got me back to where I was before cost wise.

Jason@RevoltHealthcare.com
Revolt Healthcare


We also used Revolt in a gap time (medical indemnity, not major medical). We looked into coverage on the Healthcare exchange, but the cheapest plan was over 1k/month I believe for our family of 4.

Revolt worked great for us, and we didn't have any issues with them. We switched back to major medical because Revolt does not cover maternity, and we unexpectedly got pregnant.
Ark03
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AG
Revolt also doesn't cover pre-existing conditions for the first 12 months, so diabetes treatment or any related issues would not be covered. There's always a reason these healthcare alliances with a really slick website and lots of marketing have such cheap rates - it's because they don't pay out when you need them most.

@Wiggletrace I'd start with www.healthcare.gov if you need real insurance.
Vernada
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AG
I know this isn't what you asked for but:

The best time to find a new job is while you still have one. I say you hang on and wait for a layoff package or until you find a new employer.

just my 0.02.
95HOUSTONAG
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AG
No idea how good the coverage is but as part of Covid relief, if you are collecting unemployment you qualify for a subsidy that could cover a lot of a healthcare.gov plan through the end of the year.

Read about it here:

https://www.cms.gov/newsroom/press-releases/american-rescue-plan-lowers-health-insurance-costs-americans-who-may-have-lost-their-job


Noble07
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AG
Quote:

The best time to find a new job is while you still have one. I say you hang on and wait for a layoff package or until you find a new employer.

This. You can't "will" yourself to a new job. So working on your job search 8 hours a day instead of 1 hour a day isn't likely to speed it up in a meaningful way. It's probably going to take time finding the right match.

Aside from that, once you get a job offer you will have significantly diminished your leverage if you are unemployed.

I was laid off last year at the beginning of the pandemic. It took 5 months for me to find a new job, and I took the first job offer I could get due to uncertainty ahead. I don't like my job and have been looking for a better one since June. It hasn't happened for me yet, but I could also get two offers in the next few weeks.

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