I am a California resident currently on COBRA coverage following my retirement from a company with 100+ employees. My 18 months COBRA coverage will expire in June. I am 63 years old. Can I extend my coverage under Cal-COBRA? Until I’m 65? There is no other “qualifying event” and my former company just switched to an insurance company that does not offer individual plans. I am not eligible for Marketplace subsidies. My current COBRA premium is $463 (individual)
If you have used all of your COBRA or Cal-COBRA benefits and you are not yet age 65 or eligible for Medicare and you meet the definition of an eligible individual under Health Insurance Portability and Accountability Act (HIPAA) rules, companies are required to sell you an individual health insurance policy, regardless of your health.
However, since that insurance company doesn’t offer an individual plan and the Affordable Care Act requires that any individual plan is guaranteed acceptance, you can enroll in a qualified major medical health plan when your COBRA coverage ends in June. At that time, a special enrollment period will open for you to enroll in an individual plan.
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Still confused and not sure about your options? We can help you – We are the COBRA experts. You can call us at 877-262-7241 and we will walk you through your options.