Health Insurance?

Question

Hi all,

So I'm going to be leaving my job in early June and Iobviously won't be starting Kellogg until September. I'm concerned about not having any health insurance coverage over the summer. COBRA is outrageously expensive, but I suppose I could go the cheapy-online esurance route...

Does anyone know if we can have our school's insurance start earlier than September?

What are you guys doing about this on your end? I noticed a lot of you leaving your jobs early too, I can't be the only one worrying about this... or am I?

I stress over the most mundane things...

-Sunipa

cmns18 · Answer

I'd also love to hear people's thoughts on this. I'm also thinking of going the cheap "disaster" route if needed.

sujith · Answer

how much is COBRA?

Praetorian · Answer

Does this help? https://www.gmatclub.com/phpbb/viewtopic ... =insurance Search is good, ladies and gentlemen.

bulishona · Answer

sorry <img src="{SMILIES_PATH}/icon_redface.gif" alt=":oops:" title="Embarassed" />

rhyme · Answer

Heh, I went without health insurance for 2.5 years while self employed. No biggie.

pelihu · Answer

It's no biggie unless something happens.

I'm self-employed and I actually just have a major casualty (or whatever it is called) plan. It has a high annual deductible so basically it covers you for major illnesses and hospital stays etc., but you just pay for other stuff like doctor's visits on your own. It's actually much more economical if you are generally in good health - with a health plan you are aggregated in a group where a few people consume the majority of the resources.

Surprisingly (or not), many doctors will charge a different rate depending on whether you're paying for it yourself or if it is covered by insurance.

batchgmat · Answer

Hehe, that was my thread that was posted! 

Hmm, so I think I'm gonna go with COBRA. Its just a few months - but I will try to see if I can enroll in Michigan's insurance earlier.

FieldTwin · Answer

That's great that you stayed healthy during that time. For many people, insurance is more about protecting against worst-case scenarios than routine medical expenses.

FieldTwin · Answer

cheap plan can be saving your money today, but you'll having difficulty in future it's important to review how much you'll pay if an emergency comes. I like checking my bimascore which gives me better idea of whether my plan is providing enough.

cmns18

I'd also love to hear people's thoughts on this. I'm also thinking of going the cheap "disaster" route if needed.

GyanOne · Answer

This is a dated topic, but adding information that will be relevant to anyone reading it:

- Simplest fallback first: if you are under 26 and a parent has employer coverage, the job loss is a qualifying life event that lets you re-enroll on their plan, usually far cheaper than COBRA.
- The ACA marketplace on HealthCare.gov is worth a real look; losing employer coverage opens a special enrollment window, and a subsidized Silver plan can come in well below COBRA for the June-to-September stretch.
- Call Kellogg's student health services office and ask whether the school plan can be activated earlier for incoming students; in our experience some programs let admits opt in from August, which beats commercial gap coverage on price.
- Watch the deductible math on bargain plans. We have seen admits pick a $200-a-month premium with a $7,500 deductible and feel great about it until something actually happens; for a short gap the right question is "what does a worst-case ER visit cost", not "what is the lowest monthly number".
- If the broader pre-MBA budget is on your mind,  our breakdown of what an M7 actually costs  helps size the cushion you need around tuition.

You are far from the only admit losing sleep over this, and a single call to Kellogg's student services this week will give a much clearer picture than guessing from a forum.

Health Insurance?

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