Find all School-related info fast with the new School-Specific MBA Forum

It is currently 17 Sep 2014, 21:46

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

Health Insurance Coverage between work and school

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:
1 KUDOS received
SVP
SVP
User avatar
Joined: 04 Dec 2007
Posts: 1689
Schools: Kellogg '11
Followers: 13

Kudos [?]: 178 [1] , given: 31

GMAT Tests User
Health Insurance Coverage between work and school [#permalink] New post 12 Mar 2009, 19:57
1
This post received
KUDOS
I know we've talked in the past about Health Insurance Coverage between quitting work and starting school. A fellow Booth admit told me about this website: http://www.ehealthinsurance.com.

She described it as "It is like the Expedia for health insurance. It pulls all the major companies' programs into one site. It also has a link for short-term insurance, meaning just a few days or weeks, if you just need coverage from the end of your job until matriculation, and that has a quick, 48-hour processing time." She used it and had a good experience with it.

Has anyone tried this site? Thoughts?
SVP
SVP
avatar
Joined: 05 Aug 2007
Posts: 1502
Schools: NYU Stern '11
Followers: 15

Kudos [?]: 205 [0], given: 22

GMAT Tests User
Re: Health Insurance Coverage between work and school [#permalink] New post 13 Mar 2009, 02:53
Two points:

First, some states don't allow consumers to buy cheaper short-term health insurance that may be available elsewhere - New York doesn't, for instance. So check to make sure your state does.

Second, depending on how comprehensive a coverage you need, continuing your existing medical insurance (through your employer) via COBRA might turn out to be just a bit cheaper assuming the same level of benefits. And you'd get to keep your existing doctors et cetera, because new short-term insurance might require you to switch "networks" or whatever..

Of course, if you only go for a basic hospitalization/emergency coverage policy only then that is obviously significantly cheaper than COBRA benefits.

Everything I've heard about ehealthinsurance.com has been mostly positive.
SVP
SVP
User avatar
Joined: 04 Dec 2007
Posts: 1689
Schools: Kellogg '11
Followers: 13

Kudos [?]: 178 [0], given: 31

GMAT Tests User
Re: Health Insurance Coverage between work and school [#permalink] New post 13 Mar 2009, 02:57
solaris1 wrote:
Of course, if you only go for a basic hospitalization/emergency coverage policy only then that is obviously significantly cheaper than COBRA benefits.

Everything I've heard about ehealthinsurance.com has been mostly positive.


thanks solaris1 - That's a good point. I guess deciding the amount of coverage needed for that period between work/school is important in costing this out!

Cheers.
GMAT Club Legend
GMAT Club Legend
User avatar
Joined: 10 Apr 2007
Posts: 4320
Location: Back in Chicago, IL
Schools: Kellogg Alum: Class of 2010
Followers: 78

Kudos [?]: 693 [0], given: 5

GMAT Tests User
Re: Health Insurance Coverage between work and school [#permalink] New post 13 Mar 2009, 05:46
Cobra...its usually the best way to go to make up for the gap until you can get the school coverage.
_________________

Kellogg Class of 2010...still active and willing to help. However, I do not do profile reviews, don't offer predictions on chances and am far to busy to review essays, so save the energy of writing me a PM seeking help for these. If I don't respond to a PM that is not one of the previously mentioned trash can destined messages, please don't take it personally I get so many messages I have a hard to responding to most. The more interesting, compelling, or humorous you message the more likely I am to respond.
Get the best GMAT Prep Resources with GMAT Club Premium Membership

Director
Director
User avatar
Joined: 12 Jul 2008
Posts: 519
Schools: Wharton
Followers: 15

Kudos [?]: 98 [0], given: 0

GMAT Tests User
Re: Health Insurance Coverage between work and school [#permalink] New post 13 Mar 2009, 06:04
riverripper wrote:
Cobra...its usually the best way to go to make up for the gap until you can get the school coverage.


My only caveat is that COBRA is probably ridiculously expensive. COBRA on my company's plan would've run me $500+/month. I picked up the cheapest Blue Cross of MA plan for $225. It has a high deductible, but do you think you'll spend the difference ($500-1000) on medical bills in the months between work and school?
Current Student
avatar
Joined: 12 Nov 2008
Posts: 45
Location: New York, NY
Followers: 0

Kudos [?]: 0 [0], given: 0

Re: Health Insurance Coverage between work and school [#permalink] New post 13 Mar 2009, 09:39
COBRA for my company was 477 a month. I found a hospital program through Blue Cross and Blue Shield (ehealthinsurance.com) that was 150 a month. Its obviously not comprehensive, but it covers emergency visits to the hospital, which is what I was afraid of. For those of us that are young and relatively healthy you really don't need a full service health plan that your company was paying for you. Also, if you quit your job I didn't think you were eligible for COBRA.
SVP
SVP
avatar
Joined: 05 Aug 2007
Posts: 1502
Schools: NYU Stern '11
Followers: 15

Kudos [?]: 205 [0], given: 22

GMAT Tests User
Re: Health Insurance Coverage between work and school [#permalink] New post 13 Mar 2009, 10:15
Actually, no. You are eligible to continue health insurance through COBRA even if you leave your employer voluntarily. And I would look at the emergency only coverage plan very carefully - it won't pay for any outpatient services or prescription drugs. If that's what you're looking for, then fine - otherwise COBRA is expensive precisely because it covers so much more.

COBRA premiums will vary based on what kind of coverage your employer offers.

formerlehmanite1 wrote:
COBRA for my company was 477 a month. I found a hospital program through Blue Cross and Blue Shield (ehealthinsurance.com) that was 150 a month. Its obviously not comprehensive, but it covers emergency visits to the hospital, which is what I was afraid of. For those of us that are young and relatively healthy you really don't need a full service health plan that your company was paying for you. Also, if you quit your job I didn't think you were eligible for COBRA.
Current Student
User avatar
Joined: 11 Nov 2008
Posts: 63
Schools: Kellogg 2011
Followers: 1

Kudos [?]: 2 [0], given: 1

Re: Health Insurance Coverage between work and school [#permalink] New post 13 Mar 2009, 11:05
This might only help folks who work for the government (which I assume isn't many of you), but I checked with our HR department the other day and was told that there is a one month 'grace period' offered when I leave (pre-cobra). In my case, I'm planning on leaving July 1, so that would cover me through the end of August.

Maybe other firms offer such a grace period?
Director
Director
User avatar
Joined: 12 Jul 2008
Posts: 519
Schools: Wharton
Followers: 15

Kudos [?]: 98 [0], given: 0

GMAT Tests User
Re: Health Insurance Coverage between work and school [#permalink] New post 13 Mar 2009, 11:08
cs11 wrote:
This might only help folks who work for the government (which I assume isn't many of you), but I checked with our HR department the other day and was told that there is a one month 'grace period' offered when I leave (pre-cobra). In my case, I'm planning on leaving July 1, so that would cover me through the end of August.

Maybe other firms offer such a grace period?


I think COBRA is a 45-day grace period.
VP
VP
User avatar
Joined: 28 Feb 2008
Posts: 1323
Schools: Tuck
Followers: 6

Kudos [?]: 117 [0], given: 6

GMAT Tests User
Re: Health Insurance Coverage between work and school [#permalink] New post 13 Mar 2009, 14:12
zoinnk wrote:
cs11 wrote:
This might only help folks who work for the government (which I assume isn't many of you), but I checked with our HR department the other day and was told that there is a one month 'grace period' offered when I leave (pre-cobra). In my case, I'm planning on leaving July 1, so that would cover me through the end of August.

Maybe other firms offer such a grace period?


I think COBRA is a 45-day grace period.


The grace period only allows you to defer the payment of your premium 45 day from the day that you elect COBRA coverage.

In other words, if you quit on May 15th, the first day of being uninsured would be June 1st (you're covered until the end of the month. If you elected to take COBRA coverage on June 15th, you'd have until the end of August (or so) until your first premium was due.

However, I remember someone saying that you also get a period where you can retroactively elect COBRA coverage. In other words if your first day without insurance was June 1st and you got sick on June 20th, you could elect coverage on June 20th, even though most insurance programs don't allow for pre-existing conditions.

RF
_________________

Get the best GMAT Prep Resources with GMAT Club Premium Membership

Re: Health Insurance Coverage between work and school   [#permalink] 13 Mar 2009, 14:12
    Similar topics Author Replies Last post
Similar
Topics:
5 Experts publish their posts in the topic Health insurance during gap between job & school lb2015 17 05 Apr 2013, 05:16
Health Insurance for non-working Spouse SoCalGator 1 04 Apr 2011, 12:44
1 Health Insurance skaballet 18 22 Jan 2008, 10:56
Health and life insurance at schools hbs.aspirant 5 02 Dec 2007, 11:14
Health Insurance? bulishona 7 10 Apr 2007, 06:15
Display posts from previous: Sort by

Health Insurance Coverage between work and school

  Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| Privacy Policy| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.