Q:I am about to leave my current job and am in the process of looking at alternatives to COBRA. How long after I leave do I have to select COBRA? Also, what happens if I choose at some later point that I want to take it, can it be retroactive back to the day after my last day of work so that there is no lapse in coverage?
A:You are given a 60 day election period to sign up for COBRA continuation after you receive the COBRA packet.Once you elect COBRA the coverage is retro-active, so you do not have a lapse in coverage.If you do not sign up for COBRA during your election period you waive your COBRA rights and you will not be able to continue the coverage through COBRA.
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