My employer said that they would pay for my first month of COBRA if I make the election to be covered by COBRA. It looks like that if I make the election for COBRA and then discontinue COBRA, I lose my chance to be offered a second chance at COBRA?
If you elect for COBRA, then cancel it, you are not eligible to elect COBRA again on that health plan. You can use COBRA benefits again should you get another job and have health insurance through them and then were laid off.
If you are fairly healthy and still want to remain insured, more affordable insurance alternatives to COBRA may be available based on where you live. Term health insurance is a popular option and available in most States. This can protect you from high medical costs of new injuries or new illnesses that unexpectedly occur while allowing you to use any licensed doctor. Coverage is available up to $1 million per person. For more information and pricing, you can call us at 1-877-262-7241 or complete a free quote online.