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As of right now it seems dead in the water. However Sen. Robert Casey (D-Pennsylvania) has submitted a proposal that would make laid-off employees eligible for the federal COBRA subsidy. The amendment proposed would give the 65% discount to employees laid off from June 1 through November 30. The discount would be for six months. If you are without coverage, it is important not to go more than 62 days before taking COBRA or finding a COBRA insurance alternative.
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If you were terminated in May, then you should be eligible for the COBRA discount. I would contact a government benefit advisor at 866.444.3272 to make sure that your HR representative is correct. My understanding is that your termination date determines the discount. Not the last date of coverage.
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Understand your frustration. At nearly 40% of your gross monthly, that is quite a chunk. The downside to not getting the discount is that you are paying the full amount your employer was paying for your coverage. If you are willing to look at COBRA insurance alternatives you can still have affordable coverage. It just won’t be as comprehensive as your group plan. If you are healthy, rarely use your insurance, you may want to consider either short term health insurance or a high deductible HSA plan. Both of these will make sure that you will limit your overall exposure during your employment. Which isn’t that exactly what insurance is supposed to do.
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Sorry to hear your predicament. It is a tough situation. One that we hear all to often. We’re unsure when or if an extension would be passed. If paying the regular rate is a burden, my recommendation would be to research other options, just in case. I’m sure the money saved could be put to use elsewhere. Take a look at high deductible HSA plans. They give you greater contrl over how you spend your healthcare dollars.
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