I am leaving my current job, which has health benefits, and going back to graduate school. Between the time I quit and go to school, I will have two months where I will work as a camp counselor and this job will not provide health coverage. I would like to apply for a mini-COBRA.

I have lived in and out of Vermont for the past four years but I am technically a resident of Texas. What should I do about this? I will be attending grad school at Cornell in New York state.

Cornell

You have 60 days from the time you get the to elect, and then another 45 days to pay the premium.

The larger issue is that you may be moving out of your company's plan area. If they do not cover people in Ithaca, NY, it does not matter where your former residence is or where you've been, Cornell is where you'll be.

If they have offices or active employees near Ithaca, NY, they will most likely cover you.

COBRA has always suffered from adverse selection since employees can wait for two months before deciding whether to exercise the option, for which they can get back. The rational choice is to remain uninsured until the end of the COBRA eligibility period. If you are sick, then sign up for COBRA. If you are healthy, buy a low-cost policy in the individual market here:

http://www.cobrahealth.com/healthquotes.htm

Also make sure you get a Certificate of Creditable Coverage to negate any pre existing conditions if your COBRA runs out.

I am in TX and wanted to know if you could extend a cancer type insurance policy, I know it is very limited but it is very cheap and I have a history of cancer in my family. Thank you, Jess

Jess:

The Texas code does not apply to specified disease policies with limited benefits. Call the company direct and ask them if you can convert.

You might try a temporary short term medical plan. Check with your college to see if they offer something. I think you are moving too far away to take advantage of the cobra.

School plans rock!