I know a real case where a child was in the intensive care unit and had their health insurance dropped because their parent missed a few days to be with them. The health insurance situation in the US is terrifying and heartbreaking.
Terrible. COBRA would have been best option in this situation, I think. By law, (for a steep COBRA fee) no one is supposed to lose their insurance on such short notice.
COBRA lets you pay the full premium to continue. If your company has been covering 80% or more, the premiums alone will be insane. Also this comes at a time when you just lost your job...
I realize COBRA is the full premium. My claim is that, if company coverage is lost in the middle of an expensive treatment, COBRA is more affordable than the out-of-pocket cost.
COBRA is older than ACA. Special enrollment in ACA under the job loss enrollment period exemption may be a better option than COBRA.
Your claim is that if they are independently wealthy, OR are willing to forego food and housing, COBRA will save them from unexpected healthcare costs.
I did not claim it would save from unexpected costs. The full premium is an unexpected cost. I claimed COBRA is more affordable than out-of-pocket healthcare if you are in the middle of an expensive treatment at the moment you lose employer coverage.
Jumping onto ACA via unemployment exemption or Medicaid could require a transfer to a different doctor, etc. in the middle of treatment.
