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Anonymous asked in Business & FinanceInsurance · 2 months ago

Can you pay as you go with COBRA insurance?

Because it's so expensive do you have to sign up and be locked into 12+ months of payment or can you just pay one extra month?

I just lost my job but I only need that insurance for at least one to two months so I can get to doctors I have been seeing and finish with my appointments with them but I need to stay on my current insurance or I lose them. 

7 Answers

  • Rita
    Lv 6
    1 month ago

    Can you have Cobra and another insurance at the same time?

    COBRA allows you to keep the exact same benefits as before. No changes can be made to your plan at this time. However, if you're still on COBRA during the next open enrollment period, you can choose another plan from those your former company offers to employees.

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  • car253
    Lv 7
    1 month ago

    Find other insurance in the marketplace.  Obamacare.

  • ?
    Lv 7
    1 month ago

    You can cancel at any time, and if you only need it for 1 or 2 months because you have other coverage starting, then you might not need COBRA either, because you have 2 months to decide whether you wnat it.

    Also, don't say COBRA is expensive. COBRA is not expensive. COBRA is just the law that says you can continue your coverage you had. You're just paying the cost. Maybe people should start saying, "Gee, my boss was generous."

  • Judy
    Lv 7
    1 month ago

    by the month.....................

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  • 2 months ago

    With COBRA you pay the full amount of coverage + up to 2% additional.  Most companies don't charge the 2% but it's legal for them to do so.

    Depending on the cost of coverage and the treatment you are getting, it may be less expensive for you to pay out of pocket for those visits than pay for cobra.  Before paying for cobra, you should find out the cash price.

    You have 63 days to get new coverage in place.  If you go beyond this, you will have to wait until Jan 1, 2022 or get other employer based coverage.

  • 2 months ago

    You are not locked in to it.  You can cancel it at any time.

  • 2 months ago

    I don't know if this is universal, but I do know that for me it I paid monthly  I got a bill each month.  I don't think I had an option to lock myself in for multiple months.

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