Archived Thread

NFT: Health Insurance (Currently Uninsured)

The Dude : 1/19/2021 12:22 pm

Quick question(Will delete),

I'm in my 20s, living back at home(NJ) and got laid off recently(Worked in tv ad sales). My health insurance through my last job expired 12/31.. I have the option of extending that coverage with COBRA, for a monthly total of over $810 a month. Old job suggested maybe getting from the exchange(?) would be cheaper for someone with my age and health. My question here is there any options out there for someone who is in there 20's, does take 1x prescription daily(anxiety), but otherwise healthy. Any sites/best places to look? I'm pleading ignorance on this entire subject as a whole! Any info is appreciated.

I went through healthcare gov and perhaps I underplayed amount of money/safety net i have. It said all i can be eligible for is Medicaid, nothing about plan shopping for a monthly fee.

Thanks!

google

Giantsfan79 : 1/19/2021 12:25 pm : link

health insurance brokers near me, or ask your/your parents insurance broker.

you can also

Giantsfan79 : 1/19/2021 12:26 pm : link

figure out who are currently the main health insurance providers in NJ, and call their customer service numbers directly

fun secret

giantfan2000 : 1/19/2021 12:32 pm : link

here is a fun secret
medicaid is State run insurance program ( because of Jim Crow )
2/3 of Medicaid is administered by private insurance companies who created managed care networks for the States

when you buy a plan on ACA it is most likely just that same medicaid plan created by the health insurance companies .

Not sure about NJ

mdthedream : 1/19/2021 12:51 pm : link

But in RI you are allowed to be on your parents insurance till you 26. I am sure it will cost your parents a little extra but at a big savings for you. Just pay them the difference. My son is back and he is 24 and currently on my insurance. Its so much cheaper he didn't take his jobs insurance.

The

AcidTest : 1/19/2021 1:27 pm : link

ACA allows anyone to stay on their parents health insurance until they are 26. Where you live is irrelevant.

You can also buy a health insurance policy directly from insurers, off the exchange. You can't be charged more because of pre-existing conditions.

COBRA

Pete in MD : 1/19/2021 1:35 pm : link

is usually a bad deal. I would look at some private insurance plans that provide catastrophic-type coverage. Hopefully your anxiety med is generic or you can switch to an alternative. Ask your pharmacy about their savings programs or use GoodRx.

the reason COBRA is generally viewed as a ...

Mike in St. Louis : 1/19/2021 1:51 pm : link

"bad deal" is because you end up paying the employer's share of the insurance as well as the employee's share, i.e. 100% of the cost per employee to the employer...usually the employer pays a portion of the total cost as a benefit while you are employed...so if your previous employer didn't pay much (or any) toward your health care, COBRA won't be that much more expensive...

when I stopped working and went on COBRA, I had been self-employed so I had already been paying the full amount of the insurance so COBRA did not increase the amount of my premium...

Insurance

Hilary : 1/19/2021 2:55 pm : link

If you are less than 27 you can be on parent’s plan. If 27 go to ACA website

If This Will Help

Samiam : 1/19/2021 5:51 pm : link

You can get on your parents plan if you are 26 or under. You can stay on their plan if you turn 26 this year until Dec 31. For most cases, assuming your parents have a family plan, it won’t cost extra. Not sure how it works if they don’t have a family plan but it still should be cheaper to add a single person unless the plan really sucks.

Cobra is a rip off...

EricJ : 1/19/2021 6:05 pm : link

use the exchange. They will ask you how much you made the prior month. So...if you are not making anything or very little in the month of Jan, then wait until Feb to apply. They base your monthly premium based upon income (as least to some degree) and the prior month's low income will result in a lower monthly healthcare out of pocket.

This is how it went for my son who turned 26 last year. He had a situation where he received more money in June than he did in July. When he applied in Aug they specifically asked about July....boom he got a good deal

Just google ACA or Obamacare - you'll get the website

PatersonPlank : 1/19/2021 8:38 pm : link

put in your info and they will show you a selection of plans covering the spectrum (more $$ more benefits). This will be cheaper than Cobra. Cobra is basically your employers plan but you pay 100% of the costs. You can find better deals that give you what you want, and not what you don't, on Obamacare