Is it true that I don’t pay on COBRA unless I have a situation that I need medical attention?

Is it true that I don’t pay on Cobra unless I have a situation that I need medical attention? I have changed jobs and will be w/o insurance for one month. I am unclear about when I sign up and pay. I have heard that Cobra is retroactive if/when I need health insurance. Is that true? Thanks.

You have 60 days from the day that the COBRA election form was sent to you to elect COBRA. You will have time to get other coverage during those 60 days.

If you do not need to seek medical treatment within the time of your qualifying COBRA event and the day you start your new group health insurance, you may choose not to elect that COBRA.

One thing to think about is if you will need a certificate of credible coverage from the insurance company stating that there was NO lapse in coverage.