I have had medical insurance through a group plan where I worked and am now eligible for Cobra. I am investigating getting private insurance, but told that I am “red-flagged” because I have migraine headaches. I thought that preexisting conditions would not apply after July, but the lady at Farm Bureau told me that did not apply to them because they were a private company. Aren’t’ t most insurance companies private companies? What should I do when Cobra runs out?
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✅ Answers
Most insurance companies are private. Obamacare only applies to group plans, with at least 50 employees.
The “insurance companies cannot exclude coverage for preexisting conditions” bit doesn’t kick in until January 2014, and just WAIT until you see the premiums then. They will skyrocket.
You can ALWAYS check with your state to see if you have a preexisting condition insurance plan, high risk health pool, or some such, and if you do, you’d need to check that it’s still open to new people. If it is, that’s probably your best bet to buy replacement coverage for when COBRA runs out.
I’d also suggest you talk to a local agent – who can tell you exactly what is available in YOUR state.
The date that pre-existing conditions exclude you from coverage is Jan 1, 2014 (not July).
– in Jan you will be eligible for coverage, but you can still be charged an increased rate.
As a benefit to members Farm Bureaus offer insurance. The Farm Bureau is not the insurance company, they contract through an insurance company, just like your employer did. The Farm Bureau insurance is not required at this time to offer pre-existing condition insurance. If you are in a state that already offers this insurance, the company that denied your coverage would offer you the pre-existing condition coverage.
– Farm Bureau insurance is not automatic acceptance like through an employer.
If your COBRA runs out before Jan, 2014 = you contract an insurance broker in your area to see if there are any plans that you are eligible for. If there aren’t, you see if there are any groups that you can get insurance through (alumni groups, business organizations, etc). If there aren’t. You hope that you don’t have a need for much insurance treatment before Jan, 2014.
– Most states will begin selling the insurance around Oct for a Jan 1 start date.
What you thought was wrong.
For anyone under 19, it stopped applying years ago.
For anyone over 19, it still applies until at least December 31, if not longer.
Whatever you thought you heard about “after July” is completely false.
You should get COBRA, and keep it until at least the end of this year (December 31, 2013).
After December 31, 2013, the new rules relating to preexisting conditions go into effect, and you may be able to get private insurance again.
Pre-existing conditions can exclude you from any insurance until January, 2014 under the Obamacare law. All insurance companies are private. When Cobra runs out it is presumed you will get a job with benefits. You can try to get insurance in October from the exchange.
In January you’ll be able to get insurance without regard to existing conditions.