I resigned from my job. I now have a temporary per diem position. This company does offer health insurance if I want it. Am I still eligible for COBRA?
You may not have COBRA continuation and another insurance at the same time
If your previous employer has more than 20 employees and you were on their group health policy you would be eligible to keep your work insurance for a short while after you stopped working there. When you continue, your continue COBRA lasts for up to 18 months. You may stay on COBRA as long as you do not obtain other insurance or become covered under your new employer’s health insurance.
The federal government’s COBRA law allows workers to continue on the same plan they had when they working. It is meant to bridge the gap, with the same health benefits, until the next comprehensive, major medical health plan is available.
How To Obtain New Health Insurance
- Enrolling in an employer-sponsored health plan through a full-time job.
- Purchasing a qualified health plan in the health insurance marketplace.
Under the Affordable Care Act, businesses who employ 50 or more fulltime workers must provide health insurance to 95% of their employees. with 50 or more full-time employees (or the equivalent in part-time employees) must provide health insurance to 95% of their full-time employees. Those that do not face penalties from the IRS.
Health insurance marketplaces, both federal and private, have major medical plans available. These plans provide comprehensive coverage for surgical procedures and pre-existing conditions. Many provide a prescription medication benefit.
Open Enrollment Periods
You may only start a new traditional health insurance plan during an open enrollment period. The federal open enrollment will typical being in November and employers will have a special open enrollment period for new employees.
You may cancel COBRA at anytime by notifying your COBRA administrator in writing.
Maybe A Short Term Plan Is More Affordable
If you are fairly healthy and still want to remain insured, alternatives to COBRA insurance may be available based on where you live. Short-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.