We have answers

Solutions

We provide COBRA answers every day to questions spanning from (former) employees that did not get their notice, high COBRA premiums, to companies closing.

Our staff will help answer your questions and resolve you issue along with other professionals in the HR community. We have government and for profit alternatives available, but there are drawbacks to each.

Our representatives in Congress passed COBRA in 1986. U.S. health plan costs are increasing much faster than the annual increase in average hourly earnings*. Since then, premiums have become unsustainable. Health insurance companies are making record profits.

*Segal Company 2010 Health Plan Cost Survey.

You need long term planning

  Options

As you get older, health insurance becomes a must. There are few other ways to pay for medical procedures affordable. We do have some no health insurance advice, but if you need to see a specialist or have a surgical procedure, cash the most expensive route.

Health insurance is financial protection. 90% of term life insurance policies are canceled for non payment of premiums. Health insurance cancellation rates are getting higher.

You need health insurance you can maintain and afford, long term. Short term health care solutions will work near term, but unless you have a long term approach to health care, you will be left without.

You want long term savings

Economical

Finding affordable health insurance is getting trickier every day. Some even pay over 10% of their income in insurance, including homeowners, renters, auto and life.

My wife and I paid over $9300 a year in health insurance and we realized in this economy, that was unsustainable. So we elected a high deductible plan and saved about 40% off our premiums. Almost 80% of health plans have moved to a higher shared costs. Coinsurance is a potential solution to the runaway health insurance costs.

About Me

Ray

My name is Ray Santos and I built this site to help people with their COBRA insurance concearns. If you ever have questions of me or my staff (my over worked wife) please contact me.

My parents were both from Lima, Peru and I came here at age 17. At age 24, I became an insurance agent and have been interested in finances ever since. I live in San Diego with 4 kids, 1 mutt and my tireless Goddess.

Retroactive

Cobra is retroactive back to the day you lost your coverage, unless you wived your COBRA, then canceled the waiver.

Send Back your paperwork as soon as you get it. Some people play the COBRA waiting game, where they will only pay if there's a medical incident.

It's true, you may have up to 144 days (44 + 60 + 45 days) to send back the COBRA back premiums. IF your health plan administrator takes the full 44 days to send the COBRA notice, and you wait the full 60 days to postmark the election paperwork back. Also you will have to pay all back premiums within 45 days of sending back the enrollment paperwork.

You have 2 deadlines you must not go over. Many people contact us about lost paperwork, or they sent in the election notice a day late, or missed the first premium payment (which has no grace period).

The best solution is always the most stable long term. But some people want to short term risks, gambling if they need the medical coverage between jobs.

With health insurance premiums at record highs, many just can't afford the health insurance premiums.

They can still send in the paperwork and not pay, getting potential coverage for up to 105 days, but this is very short term solution and not an advantage in the long run.

Conclusion: Do not sit on the cobra paperwork for too long. Consider returning it as soon as you get it, along with the payment. Even though you have the look back period, premiums continue to accrue.

Papers get misplaced, and you have to allow for time to send back another set of enrollment paperwork, possibly even another check if those are lost. Don't wait until last minute!