Quote:
Originally posted by Not Me
I guess it varies from state to state because in California if you are a healthy non-smoker under age 40, if you leave your job, you can always get a cheaper individual policy than if you go with COBRA. This is because the group policy you are payng for under COBRA is based on a group that includes people some of which are not healthy and some smokers and some over 40. Their health care costs are more than yours, yet in the group plan, everyone pays the same premium regardless of age or health status. That of course being the whole point of a group plan.
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Are you positive that the coverage is identical? And is the policy intended to be gap coverage, or is it intended to be permanent individual coverage? Gap coverage, especially if it is catastrophic, is MUCH cheaper than "real" coverage.
I'm actually surprised this is the case in CA because it is my understanding that CA has lots of coverage mandates that push up the cost of actual insurance but of course do not apply to self-funded plans.
