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Chief
Cobra is retroactive for up to 60 days. Meaning you don’t buy it unless you need it, and if you do need it it’s retro back to your first day.
Manager 1 - that’s so true. I didn’t even think about that fact 🤦♀️
Chief
Use GoodRX for prescriptions until the new insurance kicks in, and avoid Cobra unless you absolutely need it in the retroactive window.
If you have FlexSpend account, use EVERY $$$ you allocated for before your last day. If you planned on $1200 for the entire year, the account was fully funded back on Jan 1, which means you could spend the entire amount that day, without all the deductions for the full year. On the flipside, if you leave any $$$ in the account, thst money goes back to your now former employer. If you have it, use these $$ to prebuy as much as you can.
SA1- contacts, solutions, anything tagged FSA approved on Amazon, OTC meds, medical devices, first aid stuff. See if your chronic meds can be prepaid but distributed on a normal schedule.
Second, GoodRX for prescriptions.
There are other options for true coverage! When you get your COBRA packet, it will state that you do have other options than COBRA but you can start researching now if you want. I know buying through the Affordable Care Act marketplace is one - this way you could look at alternate plan options and get a less expensive plan for for catastrophic coverage or something similar.
Another thing to think about - someone posted the other day about in other industries, it was standard practice for their new employers to provide a stipend to cover COBRA costs before the new company’s health insurance could take effect. Why not ask for this? It is probably a minimal expense to your new company, even though it seems like a huge cost to you.
My HR manager actually told me to try that! Thank you so much
You guys are all amazing. Thank you so much for all of this advice - so helpful!