Re:Long-term unemployment leads to disengagement and apathy
by guitarbill on Tuesday September 03, 2024 @11:08AM
(#41435692)
> If an American loses their job for any reason
This is incorrect, it's "for limited periods of time under certain circumstances" [0] (and citizenship is not required).
> they can always keep their current insurance through COBRA. [...] needs to pay the full premium
This is true but vastly underplays the cost. It isn't unusual for "the full premium" to be over a thousand dollars per month [1] (!). They even get to charge you an "administrative fee". Oh, and there's also tax implications.
> For people who don't want to stay on their previous employer's plan, the loss of the job is a "qualifying event" which allows them to immediately do things like join their spouse's plan or sign up for an individual "Obamacare" plan through healthcare.gov.
More likely for people who can't stay on their previous plan because it would bankrupt them. Or if their spouse is not working. What happens if the employee has children/dependents on the plan? Etc, etc.
None of this is easy. Switching insurance changes which doctors are "in network", so at minimum it's significant hassle. At worst, their or a family member's current treatment is only partially or not at all covered.
So, in practice, parent's description is accurate enough.
This is incorrect, it's "for limited periods of time under certain circumstances" [0] (and citizenship is not required).
> they can always keep their current insurance through COBRA. [...] needs to pay the full premium
This is true but vastly underplays the cost. It isn't unusual for "the full premium" to be over a thousand dollars per month [1] (!). They even get to charge you an "administrative fee". Oh, and there's also tax implications.
> For people who don't want to stay on their previous employer's plan, the loss of the job is a "qualifying event" which allows them to immediately do things like join their spouse's plan or sign up for an individual "Obamacare" plan through healthcare.gov.
More likely for people who can't stay on their previous plan because it would bankrupt them. Or if their spouse is not working. What happens if the employee has children/dependents on the plan? Etc, etc.
None of this is easy. Switching insurance changes which doctors are "in network", so at minimum it's significant hassle. At worst, their or a family member's current treatment is only partially or not at all covered.
So, in practice, parent's description is accurate enough.
[0] https://www.dol.gov/general/topic/health-plans/cobra
[1] https://www.investopedia.com/cobra-insurance-cost-7486539