Really worried about our future

Hello,

Perhaps you have some answers for us. My husband works for a major company but will be getting permenantly laid off sometime in 2008, we have no idea as to the date, it most likely will be in the 1st or 2nd quarter. I am not employed and on SSDI. I am on my husband's company group insurance plan. I just signed up for Medicare part B and took an advantage plan with part D in it. I started looking over the plan and my medications and realized I will be in the "donut hole" in the first quarter of 2008 at the same time my husband will probably be out of work!  I am on 10 prescriptions and I don't think I can even pay the co pays before the donut hole! (My plan right now is manageable)   My husband will go on Cobra (over $450) but because I am older than him my Cobra will be over $650.00/mo and we can not pay the outragous Cobra amount. He will get a good severance pay considering he spent a long time with the company but again, we don't know how long it will take for him to find a job and we need the severance money also to help pay the Cobra insurance and living expenses.  My question is how will I pay for my prescriptions while my husband is unemployed??? Every state aid plan/drug help plan I looked at calls for a low income and they will want to see our 2007 W2 form which will be over the limit they ask for.

[Amir Mostafaie]

Dear heart2heart,

Even though you have done some homework, let's list a few options;
- Your husband may be able to find employment with benefits soon after he is separated from his current position & you may be able to stay on a group plan.
- If your husband is in fairly good health, he may qualify for an Individual plan which is sometimes more affordable than COBRA & that will cut down your cost.
- If you end up opting for COBRA, your age shouldn't make it more expensive because COBRA, similar to other group products don't rate you on the basis of your age but on the base of the average age of your group.
- You mentioned that you have checked many resources for help. Have you checked www.needymeds.com? I have found them to be more versatile than others.

Sincerely,

Amir Mostafaie

[InsureBob]

If you signed up for a Medicare Advantage Plan, you won't be on COBRA, so don't figure that into your calculations.  If the Medicare Advantage Plan you signed up for won't cover your medications adequately, then I would suggest going to medicare.gov, and shopping around for one that does.

You mentioned that you were on SSDI, and that you take 10 medications, there may be a SNP (Special Needs Plan) available, that would help with that.  

I agree with Amir. If your husband is healthy enough, he may wish to go with a major medical plan.  I would recommend a High Deductible Health Plan, that you can fund, and use the monies to pay for your health issues.