Continuation of Coverage beyond COBRA guidelines

[Guest ljsimms]

Has anyone been lucky enough to have their COBRA coverage extended beyond the statutory period? Or has any corporation out there been generous enough to extend coverage beyond the statutory period? COBRA does not prohibit plans from offering continuation health coverage that goes beyond the COBRA periods but I'm wondering how likely a company would continue coverage and under what circumstances. Thank you.

[QDROphile]

Have you ever heard of retiree health plans?

[KIP KRAUS]

It’s very unlikely that an employer would continue COBRA beyond the required time period established by COBRA. In fact, if it weren’t for COBRA they would be unlikely to continue group coverage beyond termination of employment. If you COBRA coverage is insured you may be eligible to convert your coverage to an individual policy with the insurer.

[jeanine]

It's been my experience that usually only the sickest qualified beneficiaries opt for COBRA coverage. Why else would you pay hundreds of dollars for continuation coverage unless you have high medical bills every month. The truth is most employers wouldn't offer continuation coverage at all, let alone for 18-36 months, unless they were required to do so by law. Even then some try to avoid coverage. Employee (and dependent) coverage is just that--a benefit for employees. Once you are no longer an employee a company has no incentive to keep you happy or taken care of. This may seem to be a harsh response to your posting, but remember, no law requires an employer to offer health insurance in the first place.