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Must I elect COBRA if I have already exhausted much of the coverage offered by my policy?

Wake Forest, NC |

My employer offered a very limited coverage health insurance policy. I had a hospitalization that exhausted everything except $250 per day for room and board as an inpatient. If I were to be hospitalized again, it would not cover tests, meds, x-rays, nothing but room and board. I now have what is considered a pre-existing condition which excludes me from health insurance coverage by most carriers (unless I am in the high-risk pool, which makes coverage unaffordable). I must exhaust my COBRA benefits before I qualify for a high-risk pool, but I would be paying premiums for a policy that is nearly worthless. I would be responsible for nearly all of the costs of a hospitalization and all of the costs of any outpatient care. I need to maintain creditable coverage. Must I take this?

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Attorney answers 1


Doesn't the policy still cover the actual medical procedures? It seems as though you have indicated that you have exhausted some of the benefits under the plan but you do not mention whether the core coverage still applies. If COBRA would preserve the core coverage then the policy is not worthless, just more expensive.