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Does it make sense for me to buy COBRA insurance?

I recently fell off a horse and hurt my neck (luckily not majorly so I do not need surgery). I had to have a MRI which costs $3500. I currently have Blue Shield and my deductible is $2400 and my monthly payment is $250. Just trying to figure out if I should buy COBRA insurance for $570 a month. Seems steep but it may be worth it. I left my job on May 31st. Have been paying Blue Shield for the past three months. Will be self employed for the next year. Will continue to horseback ride. Thanks everyone. Love this site!

Asked By: fogcityt - 8/5/2008
Best Answer - Chosen by Asker
How long do you plan on not having insurance benefits through a new employer? If you're going to keep riding, you should probably take the COBRA, if it's not too late. But you don't say when you're leaving your job, or when you'd need to start paying for the Blue Sheild through Cobra.
Answered By: mbrcatz17 - 8/5/2008
Additional Answers (7)
Honestly, no it's not worth it. You obviously need insurance given your situation, but use COBRA as a last resort. In my estimate Blue Shield is better. COBRA is more for people getting out of college that are no longer under there parent's insurance... More
Answered By: Mike D - 8/5/2008
 
I've heard a lot of BAD things about COBRA!!! I'd stay away
Answered By: belle - 8/5/2008
 
Well there's definitely more to think about than just whether your monthly premiums will be more than the cost of the actual treatment you need....if you don't get the COBRA (or some form of insurance, like an individual policy that you can get from Blue Shield or any other local insurance if it's cheaper) you'll end... More
Source(s):
Answered By: Katie W - 8/5/2008
 
Are you still employed and your Blue Shield is through your employer? Why then would you think of COBRA?
Answered By: src50 - 8/5/2008
 
Yes, you now have a pre-existing condition that will jeopardize your insureability. Purchasing the COBRA will protect that for a year. Keep the coverage even though it may be expensive.
Answered By: sweetiefreck - 8/5/2008
 
"Heard COBRA is bad"....it's the same exact plan. COBRA just allows you to keep the same coverage. There's nothing BAD about it... More
Answered By: Insurance Pickle.com - 8/5/2008
 
If you need help with bills. Please visit this site http://www.mybenefitsplus.com/40617802 they are a discount health plan, that might be what you are looking for. Good luck!
Answered By: Susan O - 8/5/2008
 
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