I have been on COBRA for the past 10 months and would like to remain with this health insurance plan. With the enactment of the Affordable Care Act will I continue with this option in addition to researching the health exchanges for a better plan?
You can remain on an employer’s health COBRA insurance for up to 18 months (depending on the qualifying event, it could be 36 months).
Obtaining New Health Insurance
- You can sign up for an individual health insurance plan during open enrollment
- You can wait until the end of your 18 months of COBRA and then sign up for a Qualified Health Plan.
A qualified health plan is what most consider traditional major medical that covers pre-existing conditions.
Special Enrollment Period After COBRA Ends
You are eligible to sign up for a health insurance plan outside of open enrollment because you will be coming off of COBRA, which is a “Qualified Life Event” which creates a Special Enrollment Period for you.