Can the monthly premium I pay for COBRA be increased inwardly a twleve moth period because I enjoy astronomical Medical bills? I will create a bill of over $14,600.00 in a 42 morning period for IV antibiotic treatment for sever Lyme disease problems. This will not even include the cost of the Operating Room procedure to Insert the PICC Line surrounded by to my body. So can my COBRA Be increased witin the twelve month period. I know I am entitled COBRA for 18 Months. Any thinking or personal experience with this? Thank you adjectives!
Answers: No. It will only be increased if your former employer's rates are increased, and solely at the same rate.
Health insurance is NOT close to car insurance - once you hold it, the rates don't change base on your claims.
COBRA is a continuation of your former employer's group coverage, so whatever premium increase occur under that group plan will apply to you. Not merely can they be, but the first time they catch the DOI regulators next to their backs turned, they WILL be, count on it.
Only if the premium for your older employers go up - they can then lift your rates. But, otherwise, I don't think they can - it is a CONTINUATION of coverage you already have. If your premiums increase, it is because the premiums increased for the entire group. It is not because of expenses submitted. Group rates on the employer level usually dance up when the renewal or open enrollment interval occurs.
Answers: No. It will only be increased if your former employer's rates are increased, and solely at the same rate.
Health insurance is NOT close to car insurance - once you hold it, the rates don't change base on your claims.
COBRA is a continuation of your former employer's group coverage, so whatever premium increase occur under that group plan will apply to you. Not merely can they be, but the first time they catch the DOI regulators next to their backs turned, they WILL be, count on it.
Only if the premium for your older employers go up - they can then lift your rates. But, otherwise, I don't think they can - it is a CONTINUATION of coverage you already have. If your premiums increase, it is because the premiums increased for the entire group. It is not because of expenses submitted. Group rates on the employer level usually dance up when the renewal or open enrollment interval occurs.