If I leave my current employer my insurance coverage will remain until May 31st. I would like to get COBRA coverage as of June 1st to not have any gaps in coverage. How would I go about getting COBRA insurance?
Your COBRA Plan Administrator Has Up To 14 Days To Send An Election Form
When a qualifying event happens and you lose employer-sponsored health insurance program, a special open enrollment period triggers. The employer who provided that group health plan is required to provide you paperwork to elect COBRA coverage within 45 days that your insurance would end. The period of time to elect COBRA is 60 days.
Your COBRA coverage is retroactive to the date of your job loss (or when the former insurance would have ended). As long as you submit the election papers and premium payments there will not be a lapse or gap in your coverage. These legal rights are made possible by the Consolidated Omnibus Budget Reconciliation Act of 1985, otherwise known as COBRA.
What Makes Me Eligible To Apply?
Certain qualifying workplace events qualify you for COBRA, such as quitting your job, getting fired, becoming eligible for Medicare or being laid off. Family members also are eligible to receive the benefit as well, when someone no longer becomes a dependent. Find out more about what qualifies you for COBRA continuation insurance.
How Do I Pay My Premium?
COBRA continuation insurance is the same health benefits plan you had when you were employed. You pay post-tax dollars now to the Plan Administrator. Often times the Plan Administrator is in the Human Resources department or they may have a third party administrator (like ADP or WageWorks) to handle premium payments.
The State You Live In May Have Mini-COBRA
Check the laws in the state you live in. Where the federal government’s COBRA Act requires businesses with 20 or more employees, some States have Mini-Cobra laws governing continuing medical insurance legislation. Most of them require small businesses, those with fewer than 20 employees, to provide access to the workers existing health insurance.