Health insurance advice...

My dh is a 3 yr med student and it looks like I am going to be a SAHM next year. We are on my insurance right now and it looks like Cobra would be close to $1000/month for all three of us. Does anyone have "independent" health insurance, not through an employer. Suggestions?

Any other financial suggestions for being SAHM? We unfortunately are going to have to borrow extra money next year.

Thanks!!!

[Vanquisher]

Medicaid

NY has a great health program for low income people called Family Health Plus. We originally wanted to get on that program, but we automatically qualified for Medicaid. It was the only way we could do it. A lot of states have something.

I swear if anyone slams me for this, so help me, I will hunt you down. We will be paying all that money back and then some in the future with our taxes.

[Meenah]

NJ has alot of programs. Check out all avenues. Our hospital has a clinic based on income. Start with applying for medicaid and this will help guide you on what you qualify for. COBRA is really expensive and would be my last choice. After the baby comes WIC provides support too.

Thank you everyone, this is great--I am looking into NJ programs and we have and will pay "it back" in taxes...that is what these programs are truly for, temporary assistance which is what we need for 4th year and then in residency our health insurance will hopefully be covered.

They don't offer health insurance through my dh's school so we are on my insurance. I think we will have to get a catastrophic plan for him and me and get the kids on medicaid.

Check into both Medicaid and the state Child Health Plan (SCHIP). Sometimes they are administered separately.

With COBRA, you can be charged a 2% administrative fee over what the plan costs (of course, with you covering the employer's contribution). You might want to see if your employer offers several health plans and consider the least expensive one. Which will mean the least coverage...but that could be another option.

[Meenah]

This semester I'm doing my internship at a Clinic in NJ that is 90% Medicaid and the care for our patients is very good. We have OBs and Pediatricians. I am doing Primary Care. I am sure you will get excellent care. NJ does have some good programs and you should take advantage of everything you can.

Thanks Luanne! My dh has a scholarship, does anyone know if a monthly stiped would count as income when looking at medicaid? We do have to claim it as income on our taxes but it is taken against the school's budget so we can only borrow $6-7K over the stipend so in some ways I don't think it should be counted as income. Does that makes sense?

[Vanquisher]

When we were applying for medicaid we had to count everything we lived on as income including scholarships and loans.

I think that is why it is useful to look at both Medicaid and the SCHIP. Sometimes when you apply through the state, they consider both programs and sometimes it is separate. The SCHIP typically allows for more income and the rules for eligibility are typically more flexible. Eligibility varies by state so it is best to see what NJ does.