COBRA Insurance
National Covid-19 Pandemic: Changes In Deadlines, Federal Subsidy
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Much of the the Minnesota Continuation and Coverage law (MN Stat. Sec. 62A.16) is the same as the Consolidated Omnibus Budget Reconciliation Act of 1985. The main exception is that it covers all Minnesotans that lose group health insurance coverage. The federal COBRA law only applies to businesses with 20 or more employees.

Eligibility For COBRA In Minnesota

The qualifying events that trigger a special open enrollment period for electing COBRA Insurance in Minnesota are the same as those found in the federal COBRA act. Workers who have quit or lost their job (including retirees) may elect to continue their workplace group health plan for up to 18 months.

When employer-sponsored insurance ends for family members, they may use either Minnesota Continuation and Coverage law or federal COBRA to continue on the same group plan. The insurance policy dependents may use the coverage for up to 36 months. In Minnesota, you are eligible for continuation coverage as a recently divorced ex-spouse. Children who lose dependent status by turning 26 years old may elect to continue on the insurance plan. As well as all family members may elect COBRA in the event the policy holder passes away.

Electing COBRA Coverage

Minnesota employers have 14 days to provide paperwork to former employees eligible for COBRA from when the insurance stopped to offer continued coverage. At that point you have 60 days to elect COBRA continuation or formerly waive your right to it. Many companies use a third-party administrator to handle enrollment and billing. Smaller companies often will accept the insurance premium payments directly to send onto the carrier.

What’s Covered?

Continuation insurance is the same insurance you had when you were employed. You will have the the same deductibles, co-pays, ID cards and healthcare networks. Wherever you are at with out-of-pocket expenses, will rollover into your new enrollment into the same plan.

What’s The Main Difference?

The group health plan’s premiums were paid from payroll deductions with a subsidy from your employer. When on a COBRA plan, you are responsible for the entire premium, plus an additional 2% administration fee.

COBRA Continuation Is Expensive

There are alternatives to COBRA continuation available. Get an affordable insurance quote or call us at 877-262-7241 and we can help you find an ACA certified health plan.

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