Can I get Obamacare instead of Cobra?
Can I get Obamacare instead of Cobra?
No. Merely being offered COBRA doesn’t affect your ability to qualify for an Obamacare subsidy. But to take advantage of the subsidy, you’ll have to forgo your COBRA coverage and enroll in an Obamacare plan through the health insurance exchange during your 60-day special enrollment period.
Can I get Cobra if I resign?
After you quit or lose a job, you can temporarily continue your employer-sponsored health insurance coverage through a federal law known as COBRA. You have 60 days to decide whether to sign up for COBRA.
Can Cobra be Cancelled at any time?
COBRA is month-to-month coverage and can be terminated at any time. You can send a letter to HealthEquity requesting termination of your COBRA coverage or you can simply stop paying premiums and your COBRA coverage will be terminated for non-payment.
What do you do if you don’t receive Cobra paperwork?
Contact The Employer’s COBRA Plan Administrator If your employer can not answer your questions or does not comply, you can call the Department of Labor at 1-
When should I receive Cobra paperwork?
Plan Administrator has 14 days to provide a COBRA election notice to the former employee/qualified beneficiary. Qualified beneficiary has 60 days from the date of the notification to make an election to continue enrollment in the plan(s). Qualified beneficiary has 45 days to pay the first premium.
Can an employer deny Cobra insurance?
If the terminated employee was never an eligible plan participant, the employer can cancel coverage retroactive to the original coverage date. Under COBRA, a person who has been terminated for gross misconduct may be denied COBRA.
How long can you take cobra?
Under the Consolidated Omnibus Budget Reconciliation Act (COBRA) , continuation of health coverage starts from the date the covered employee’s health insurance ends and, depending on the type of qualifying event, may last for 18 months, 29 months or 36 months.
