Saturday, May 28, 2011

COBRA Insurance question?

My wife currently carries our family insurance with her company. We were wanting to have another baby on her insurance and she is wanting to quit working in Jan. If that is the case we would continue with COBRA until the baby is born. Right now we pay around $200/month for family medical, dental, eye, etc. Does anyone know how much this would be on COBRA or how we could find out. We can't go and ask the company because that would like suspicious.
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The way COBRA works is you will pay 102% of the current premium. If you know how much the employer is paying you can figure the cost. For example, if you pay 50% and the company pays 50% you know the total cost of the insurance by doubling the premium you are paying now and add 2% to the cost. This will give you a close guess. If you don't know the percentage you can't find out without asking although you could ask them what the percentage is.
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