I was recently laid off from work. I found a new job, but my insurance
doesn't start for 90 days. I don't want to have to pay for COBRA, if I
can avoid it, since it runs about $1070 (is this legal?). I have 60 days
to decide, but only 45 to pay. If I incur medical expenses before I do
either, can they be covered if I send in my payment? If I have a 30 day
grace each month, can I get 90 days coverage making only two months
payments (i.e. 44 days and 30 days after that)?
Thanks-
Dennis
Dennis:
Because COBRA is continuation coverage, the high premium is the same your employer paid while you worked there. If you incur medical expenses during your enrollment period, then you should be covered, retroactively.
The 45 day grace period is after you elect COBRA.
There is a monthly 30 day grace period with COBRA, and if your premiums are late past that, you would be summarily terminated from the plan. The employer or plan may offer a grace period longer than 30 days.
The government makes the coverage an entitlement benefit, but does not control the premium. Get temporary health insurance in the green box at the top.
Craig Casey is an Writer, Coach, Blogger, Husband, and Former Health Insurance Agent helping people on the web since 1999 with their health insurance problems.
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