Expiration of COBRA, or COBRA Eligibility Qualifies You for a Special Enrollment Period
If your COBRA Benefits expired, then you may be in a Special Enrollment Period. There are exceptions, though.
You must use COBRA continuation until it is no longer available to you. If you miss a premium payment or end COBRA before it has been fully exhausted(usually 18 months), it will not count as a qualifying life event.
JUST ANNOUNCED BY THE OBAMA ADMINISTRATION:
Beginning May 1, 2014 and ending July 1, 2014, individuals and families currently on COBRA continuation are in a Special Enrollment Period.
This means if you are on COBRA, you are eligible to voluntarily QUIT COBRA and sign up for a new major medical plan. This 60 day period ends July 1, 2014.
You must enroll within 60 days of the end of your COBRA coverage, and you can even enroll before COBRA ends, as long as you have the supporting documentation. Get a quote here! If you have any questions, need help, or just prefer to speak with someone, feel free to call us at 877-279-7959.
Remember: Voluntarily quitting other health coverage, being terminated from a plan for not paying premiums, or losing coverage that is not a qualified health plan are NOT qualifying life events and will not result in a Special Enrollment Period.
Let us explain a bit about COBRA.
COBRA is a federal law that requires employers with 20 or more employees to offer the continuation of the same group health care coverage to an employee and their spouse and dependents if an employee has voluntarily or involuntarily left their job, has had their work hours reduced, been through a divorce, or passed away. In most cases, benefits last for 18 months, but in cases of divorce, death, and dependents aging off of a parent’s health plan, coverage could last up to 36 months.
A good resource for answering questions regarding COBRA is CobraInsurance.com. They have FAQs, a place to submit questions, and even a listing of additional State Cobra Laws.