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That would explain why COBRA is so insanely expensive.... No one is buying it unless they retroactively needed it and thus the risk pool is sky high
by notch656c 4y ago
That would explain why COBRA is so insanely expensive.... No one is buying it unless they retroactively needed it and thus the risk pool is sky high
- sgerenser 4y agoNo, that’s not it. The cost is sky high because its the price that your employer, plus you normally pay. At tech companies in particular where the employer usually picks up 90-100% of the cost, it makes COBRA look crazy expensive when you suddenly have to pay 100% instead of 10%.
- notch656c 4y agoI believe it; but is interesting in the context that I have purchased ACA plans on the open market comparable to my company insurance, and they were far far below the cobra price. For reference a basically identical ACA healthcare.gov plan I bought for ~1k when COBRA charged something around $3k.
- notfromhere 4y agoACA is subsidized, COBRA is not. That's where the huge price difference comes from.
- notch656c 4y agoI was paying the full unsubsidized rate. Not the one for the poors where you earn less than X and you get a deal where taxes pay for part of it.