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Started By
Message
re: Cobra Insurance
Posted on 9/19/16 at 4:16 pm to lsupride87
Posted on 9/19/16 at 4:16 pm to lsupride87
quote:
Dont sign up for it unless you have a medical emergency. You have a 60 day window and it is back dated.
this
0
Posted on 9/19/16 at 4:16 pm to lsupride87
quote:
Dont sign up for it unless you have a medical emergency. You have a 60 day window and it is back dated.
This. People are paying for it upfront thinking its like open enrollment
Posted on 9/19/16 at 4:18 pm to 24dive
How long will you be between jobs?
You don't need to sign up for COBRA immediately. There is a provision (or at least there used to be) which lets you sign up and pay retroactively should you need coverage before your new insurance were to kick in. The caveat here is that I'm not sure if ACA impacted that provision. The current law states that you just maintain coverage, so that might have changed.
Also- if you have any ongoing medical needs, you obviously would need to sign up in order to maintain cocerage.
If it is still allowed to retroactively sign up for COBRA the best plan is to set aside the amount of your premiums each month so if you do need to sign up you have the cash on hand so it isn't a shock to your budget. If you don't ever have to use it, you've just saved up a nice little extra bit of cash.
You don't need to sign up for COBRA immediately. There is a provision (or at least there used to be) which lets you sign up and pay retroactively should you need coverage before your new insurance were to kick in. The caveat here is that I'm not sure if ACA impacted that provision. The current law states that you just maintain coverage, so that might have changed.
Also- if you have any ongoing medical needs, you obviously would need to sign up in order to maintain cocerage.
If it is still allowed to retroactively sign up for COBRA the best plan is to set aside the amount of your premiums each month so if you do need to sign up you have the cash on hand so it isn't a shock to your budget. If you don't ever have to use it, you've just saved up a nice little extra bit of cash.
Posted on 9/19/16 at 4:28 pm to soccerfüt
quote:
GDCK
Came in to post - glad I didn't have to.
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