We are not COBRA. For specific contract details about your current company policy, contact your health plan administrator.
I have some questions regarding the bankruptcy of my previous employer.
On your web site it mentions, "Your group health plan must notify you within 60 days of any reduction in benefits." Does that include the termination of the plan in the case of bankruptcy? It seems that going from a plan to no plan is a reduction in benefits. If that is true, will the Cobra have to continue for 60 days if they decide to terminate the policy?
Also, I spoke with a CIGNA representative the other day and she informed me that if the company goes bankrupt, I would have the option to continue Cobra coverage through CIGNA, I am assuming this would be a conversion. Does anyone know if this is accurate and if so, what are the premiums like?
Lastly, due to a pre-existing condition, I understand my only options are to enroll in the HIPAA CHIP program in my state or enroll in another group plan. If I am eligible for a group plan upon termination of Cobra, can I elect to enroll in CHIP rather than the group plan? Believe it or not, CHIP appears to be cheaper than the group plan.
Any information would be greatly appreciated!