Where can I find other options/resources to look into as alternatives to COBRA that will be cheaper and still not be counted as a "lapse in coverage" (Both for while traveling and after traveling but before any new job)? A few more specific questions inside. Open enrollment is approaching so I can change my health plan through my employer. There is a low-deductible PPO and HMO and a high-deducible PPO and HMO. The latter (high deduct) both include an HSA. COBRA is an option for all of these but with monthly payments from ~$600-800.
My biggest worry here is having a lapse in coverage that will prevent purchasing future health insurance. I'm not as worried about the ACA "tax" for non-compliance, more so just making sure we don't get back and insurance companies won't insure us because of a lapse in coverage.
We've got plans and savings to quit our jobs and travel for an undetermined amount of time starting sometime next summer (maybe for 2-6 months).
COBRA is so expensive that we'll be paying more for that than the amount we'll be saving in no longer renting. And traveling internationally means we won't get to use most of the benefits of these plans.
My biggest worry here is having a lapse in coverage that will prevent purchasing future health insurance. I'm not as worried about the ACA "tax" for non-compliance, more so just making sure we don't get back and insurance companies won't insure us because of a lapse in coverage.
We've got plans and savings to quit our jobs and travel for an undetermined amount of time starting sometime next summer (maybe for 2-6 months).
COBRA is so expensive that we'll be paying more for that than the amount we'll be saving in no longer renting. And traveling internationally means we won't get to use most of the benefits of these plans.
- Question 1.
I currently have the low-deductible HMO and am happy with it, but should I switch to the high deductible HMO (with HSA) during open enrollment, and then starting Jan 1 when it takes effect, make some big deposits into the HSA between then and my last date of employment? I assume the tax savings wouldn't be that great since my income will only be about half a year, but at least I'd get to take some of the employers money with me (that they deposit)? Thoughts on this?- Question 2
- I've been recommended IMG Patriot travel medical insurance and Nomad, but would either of those prevent a "lapse in coverage"?
- Question 3
- Furthermore, when we're done traveling, but before we find new jobs, what do we do then?
