Catastrophic Health Insurance vs. Cobra

After my daughter's husband lost his job, the company wanted almost $1500 to COBRA his health plan for her husband and herself. After doing some research, they learned that they could save a tremendous amount of money by purchasing a catastrophic health insurance plan with a HSA. It had a $2500 family deductible with no coinsurance after the deductible was met. Additionally, they contracted with a concierge physician and have 24/365 unlimited access to impeccable care. The guy even makes house calls!


In total, they now spend about $700 per month for their family to have top-notch care. The concierge MD has saved us thousands more by providing us with free samples, substantially reduced lab costs, and intervening on a weekend when a bad case of the croup would have normally landed her in the ER with a $1,000 bill.

This is certainly worth looking into.

Source: My daughter

By Bobbie from TX

March 19, 20080 found this helpful

What is a concierge physician and how did you locate him?

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March 24, 20080 found this helpful

How did your daughter find all this info out ? I would be interested in learning more about it.


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March 30, 20090 found this helpful

Recession-related job losses are threatening health coverage for many families. To help workers maintain their health coverage while they are between jobs, the American Recovery and Reinvestment Act (ARRA) provides a 65% reduction in the premiums payable by involuntarily terminated workers and their families for health care continuation coverage under COBRA. This premium reduction will last for up to 9 months.

basically- you paid 35% and your old company will paid 65% of the premium for up to 9 months.

all the details-

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June 4, 20120 found this helpful

This varies in different states. We have this on my husband after he lost his job and the COBRA ran out. We pay $800.00/month just for him. After the huge deductible, he must still pay 70% of the bill. They cover few other things; in 1 1/2 years, his cost goes up to about $1500/month, and no, he doesn't smoke nor has he ever. He has no 24/365 access, concierge physicians, nor prescription samples.

He has to pay 100% for all prescriptions then file them to go toward his deductible; if he uses any kind of a discount, they will not accept what we paid to go toward his deductible or reimbursement. He must pay 100% of the prescription cost even after his deductible is met, then file for a refund.

One more thing, if over 6 months lapses between treatments, the deductible starts all over again. Make no mistake about this - in my state, this is a last resort insurance for those who have no other options. The next step is to file for disability to get Medicare, which is what most do because they simply cannot afford this cost. It does not cover any eye care or dental either.

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