Q: My husband worked for a municipality and we purchased the coverage for 2 months after he left the city were he was employed. It has been 2 months since we purchased the coverage (did not send premium). How much time do we have if something was to happen? A: You have 60 days to sign up for COBRA from the day you receive the election form. After you return the completed election form to the employer you have to make your first premium payment within 45 days. If this payment is not received your employer’s plan can cancel the COBRA continuation for non-payment.