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| Waiting Period to Elect Cobra |
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Q: I am currently resigning from my job on December 3rd so I will be covered for the entire month of December. I was wondering about the "Sit and Wait" approach prior to electing coverage, since I am still looking for a job. I know I get 60 days from end of coverage or 60 days from notice, to elect coverage, but was wondering if I waited and then had a major medical event....would I still be covered. (i.e.) If I was in a car accident in 1st of February but haven't elected it yet since I get until February 20th, could I elect coverage at that point?
A: As long as you submit your election form to your previous employer or their plan administrator before the 60 days election period expires you will activate your COBRA coverage. COBRA continuation is retro-active to your last day of group benefits. You will not have a lapse of coverage. Once you make your first COBRA payment, your medical bills that you occur during the election period will be paid by the insurance company based on the group plan's benefits.
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