I’ve been talking to a lot of people and the rumors are true. Companies are now getting in compliance with the new stimulus package and they are adjusting their Cobra payments down in some cases from something like $1000 for a family of three to $350. That is great news for families who are Cobraed. If you aren’t covered by Cobra don’t fret. I think there are provisions to allow you to rejoin and get your lost medical coverage at the lower rate – and the lower rate is something like 65% lower so it is a good deal.
Don’t skimp when it comes to medical coverage unless you are in superb tip-top health and your family is the same way. If you haven’t been getting letters, call your Human Resources Dept and ask them about it. They should send out a new form to sign-up with the different rate plans and you can add or delete the options as you see fit.
For those of us with kids who have braces, people with medical conditions or just playing it safe in case you break an arm, medical coverage is a good thing to have.
The stock market was up today but financial stocks were down on the news from the government. It looks like Citibank may get another infusion of cash and General Motors may get the same treatment. Pundits are saying that we may be in for a downslide of 15% then the markets will roar to have a drop-off like a diver from a cliff flattening everything. Pundits have been right and wrong before so just act accordingly and keep an eye on your money. Be very careful if you are shorting stocks. You can get nailed in a rebound rally or news bounce on earnings just as easily as the stocks can continue to drop on bad news (or news that business thinks is bad).
Stay safe everybody.
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Kim Greenblatt
Cobra Payments Adjusted – Check with your Former Employers