Q: I am 67 and just was laid off and my medical coverage ends 7/31/14 with the company. Was told I need to go on Medicare part B that because of my age cobra would be secondary insurance and not pay. I am attempting to get all paper work required to get me/wife on Medicare part b by 8/1/14 but time is tight. How do I make sure I have us covered on 8/1/14. Thank you One more thought If I open my own consulting firm and start working to get a customer does that change my need to go on Medicare part B would cobra kick in for the potential 18 months.
A: As far as COBRA Continuation goes, once you elect it, it will work retroactively back to the date of the loss of coverage. To learn more about Medicare, I would suggest visiting there website href=”https://www.socialsecurity.gov/medicare/apply.html HERE .
Remember that your previous employer has up to 45 days to get the COBRA election information to you, and then you have 16 days after that to get your election form and payment in. As long as you elect and pay your first premium for COBRA before the end of those 60 days, it will cover you retroactively back to the day you lost coverage.
COBRA continuation is very expensive. There are alternatives to COBRA continuation available. Click href=”https://cobrainsurance.com/ here for a quote, or call us at 1-877-279-7959 (8am-5pm CST) and we can help you find an alternative plan.