{ "media_type": "text", "post_content": "I’m a healthy guy in his 20s. I recently got laid off due to COVID, and I have to start paying monthly premiums for COBRA. Would you say it’s worth it? Hard to decide whether it’s better to play it safe and pay, in case something happens to me. Or I could save that money for rent + who-knows-what for however long I might be unemployed.", "post_id": "5f18d483976cff002288ada8", "reply_count": 33, "vote_count": 2, "bowl_id": "5e6fe1c31f5e51001d267e46", "bowl_name": "The Work-Life Bowl", "feed_type": "bowl" }
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I’m a healthy guy in his 20s. I recently got laid off due to COVID, and I have to start paying monthly premiums for COBRA. Would you say it’s worth it? Hard to decide whether it’s better to play it safe and pay, in case something happens to me. Or I could save that money for rent + who-knows-what for however long I might be unemployed.

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Whatever you do I would not let your medical labs. Whether you go cobra or whether you go independent, make sure you keep your medical insurance. The last thing you wanna do is be stuck with a “pre-existing condition” Excuse for insurance agencies not to give you coverage later.

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It’s going up to the Supreme Court, so cant be completely out of the realm of possibility, especially since he had had the clause requiring insurance companies to pay removed, which had protected it. I would not want to gamble with my health and possibly livelihood with this Supreme Court.

The Cobra deadlines have been extended due to the pandemic. You should check the paperwork to see when you have to elect by. Cobra is retroactive if you have an expense and elect it later, so you might be able to avoid electing it if you get a new job before needing medical coverage. Don’t ever go without an option for insurance though - no matter how healthy you are, you can get a serious disease at any time, or you can be in an accident. Without insurance, one week in a hospital can bankrupt you.

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Pandemics are a great time to have health insurance.

likesmart

Personally, I would never go without health insurance - especially during a pandemic. One hospital stay can easily exceed $1M. It’s a huge risk.

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Death is free though

likefunny

You have 60 days to decide - wait until the last point possible before electing

If it was me, I would probably take the chance of going uninsured for a while...it’s a gamble though

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COBRA coverage is retroactive to the day after your previous coverage ends.

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Don’t go without health insurance, especially with Covid. You don’t know how it’ll impact you if you do catch it - so don’t play your chances!

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If your healthy and don’t use your insurance for much more than copays I would get insurance thru ACA

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As someone who has had several fluke health issues out of the blue, I’d take the cobra. Especially during a pandemic that is spreading like wildfire. You do not want to see that hospital bill after a month on a ventilator if you don’t have insurance.

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Or go on the ACA and get it there for less if you can do that before the marketplace opens in November.

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You do not have to pay for cobra for 90 days. If something happens within those 90 days and you need medical care, cobra will cover you and you would then pay retroactively.
So, stay healthy, my friend, and try to get a job within the next 3 months!

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Please don’t go uninsured. Pick COBRA or something else, it doesn’t matter. But just get something. Pandemic aside, there is still always the chance that you could be in a car crash, break a bone, slice your hand cooking dinner. Medical bills add up really fast, and would be much higher than the totals of any premiums you would pay.

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COBRA is most likely your cheapest option. Daughter broke her wrist, had pins put in. Hospital cost was $15k, insurance cost was $150. Don’t risk going without insurance

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If you live in a state where it exists check out the Oscar under 30 plan

But also you can only switch over if it's been 60 days since you lost your employer coverage

Get medicaid. It's free and actually not so bad

Need to meet income requirements - he likely won’t qualify. Even in states that expanded Medicaid it is 133% of FPL. That’s under $17k for a single person...

Have to think you can get a better rate through your state's ACA exchange than COBRA as a healthy person in your 20s.

Under 26 you can get on your parents plan. Cheaper than cobra.

Thanks everyone for the helpful responses. You’ve all convinced me I should hold onto COBRA, better to have something rather than nothing in the midst of a pandemic.

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