Toni:
You would fall under
Florida's mini-COBRA statute.
But eligible participants must request the extension within 30 days of termination, so you have to notify your employer right away.
Most people do not electing
COBRA on FSAs. Most employees will have medical procedures prior to giving notice in order to max out their FSA without making the full annual contribution
If an employer fails to properly advise employees of their rights under COBRA, then the employee or a hospital sues the Employeer, they may have to reimburse a large medical claim plus substantial fines.
IRS regulations limit COBRA participation in most FSAs. COBRA continuation coverage under the FSA need not be offered for any plan year after the plan year in which the qualifying event occurs if the FSA satisfies two conditions:
a) The employer offers another group health plan; and
b) For the plan year in which the qualifying event occurs, the maximum amount that the FSA could charge as a premium for a full plan year of COBRA continuation coverage equals or exceeds the maximum benefit available under the health FSA for that year.
Qualified beneficiaries may want to retain FSA coverage following a qualifying event by paying the premium with after tax dollars, especially if:
a) The employee has used little of his or her deferrals at the time of the qualifying event; and
b) Is willing to pay out-of-pocket because they anticipate medical expenses before the end of the plan year plus any grace period
