Group Medical Policy

[Lovesgirl]

Husband and I are filing personal chp 7 bk. And we will be closing/dissolving our s corp which will have liablities and no assets when we close it. We are already in the process (pre bk filing) of creating a whole new company as an LLC so we'll have jobs post bk. Question: We currently have a group medical policy in the name of the s corp we will dissolve from Wellpath/Coventry. Can we leave it out of the bk and just keep paying the premium? Do you think they will (pre pk) just change the name on the policy? If they have to drop it and rewrite it and us reapply with the new name (pre bk) will they underwrite us? we have some meds and weight issues and cannot get individual policies.
Just need to figure out how to keep this policy. Cobra will not work because the "company" has to still be in existence. Any advice is appreciated.

[last2cents]

Hey its me again! I swear I am NOT stalking you...LOL.....

When I fired my last employee (because I couldn't afford to pay her), my group insurance suddenly became a group of "one" - which is not a group.

My insurer (Blue Cross) has a program available to transition group policy holders out of the group and into individual policies - no medical underwriting - basically because they've been covering you all along.

You might want to inquire with your company about something like that - I found that the individual premium under this program was less than what I was paying under the group. It's the same exact coverage (actually slightly better coverage), and the only thing I decided to change was to increase my deductible to shave a few more dollars off the monthly bill.

[Lovesgirl]

Feel free to stalk me! LOL

You have been very helpful. Stalk away! LOL I told my insurance broker to check into that with our carrier and see if we can do that as well.

I also found out that if we apply for coverage with anybody for individual health and get declined. Which we would based on the number of meds we take and my weight (ugh!), we would get a decline letter back. Then our state of NC has a high risk pool that provides you with insurance (you still pay for it) called "Inclusive Health" and it is specifically for those people who have problems getting a group policy or individual policies and it is suppose to be semi-affordable. So at least there is a way for us to get some coverage

I really appreciate all your advice. It is nice to know I'm not running backwards thru the cornfield all alone out there! LOL