COBRA and the Affordable Care Act

ody Q: I have been on COBRA for the past 10 months and would like to remain with this health insurance plan. With the enactment of the Affordable Care Act will I continue with this option in addition to researching the health exchanges for a better plan?

A: You can remain on COBRA for up to 18 months (depending on the qualifying event, it could be 36 months). At the end of those 18 months, you cannot stay on your COBRA Continuation. Open Enrollment with the Affordable Care Act ends on Monday, March 31, 2014. This means that for most people, after March 31st, they won’t be able to sign up for a health insurance plan, and will be subject to the penalty. For you, it will be different. You have two choices:

-You can sign up for an individual health insurance plan during open enrollment; or

-You can wait until the end of your 18 months of COBRA and then sign up for a Qualified Health Plan.

You are able to sign up for a health insurance plan outside of open enrollment because you will be coming off of COBRA, which is a “Qualified Life Event” which creates a Special Enrollment Period for you.

We also have plans available! Click href=” here for a quote, or call us at 1-877-279-7959 (8am-5pm CST) and we can help you find a plan.

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