My wife, until very recently, worked at a store in the Borders chain, and became unemployed when they closed the store (as well as about 1/3 of the stores in the U. S., but about ½ of the stores in this area.) This weekend, she received a letter from Aetna, which runs the health insurance plans at Borders. She was offered the chance to continue her health insurance under COBRA, for about $400 a month.
How anyone could expect anyone to opt into this amazes me. Her unemployment compensation comes to a bit over $200 a week. That means she'd have to spend ½ of her income to get health insurance!
COBRA may have been devised as a way to provide health insurance for the unemployed, but it is a joke. You have only about ½ of the income, but you have to cover the employer's share as well, meaning you'd have to pay double the amount you did as an employed person on half the income. This legislation makes no sense. It does not really serve its purpose, but solely serves to give the illusion that health insurance for the unemployed exists.
It's issues like this that need to be addressed.
How anyone could expect anyone to opt into this amazes me. Her unemployment compensation comes to a bit over $200 a week. That means she'd have to spend ½ of her income to get health insurance!
COBRA may have been devised as a way to provide health insurance for the unemployed, but it is a joke. You have only about ½ of the income, but you have to cover the employer's share as well, meaning you'd have to pay double the amount you did as an employed person on half the income. This legislation makes no sense. It does not really serve its purpose, but solely serves to give the illusion that health insurance for the unemployed exists.
It's issues like this that need to be addressed.
2 comments:
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