I am about to start a very expensive drug therapy that is 100% covered under current insurance. I may also be starting a new job in next 30 days which will not offer insurance for 90 days. Can I get COBRA if I quit after I start this drug therapy and will they have to maintain full coverage? My employer is more than 200 employees. This is very important to confirm or I may not quit.
Yes, you will be eligible for COBRA, and it will be full coverage. This is exactly the kind of situation COBRA health insurance was designed for. You should keep in mind though, that your premiums under COBRA continuation will be more expensive than what you pay now. You will be paying the amount you contribute now, plus the employer’s contribution amount and possibly up to a 2% administration fee.