Disclaimer: I know nothing about COBRA.
I quit my job on Friday, started my new job on Monday. New job’s health insurance doesn’t kick in for 60 days. COBRA with old job gives me 60 days to elect to continue coverage. If I understand correctly, if I elect it at any point during the 60 day window, it is retroactive to the date I lost coverage through my employer.
I am a <40 healthy male, my wife is <35 healthy female. Our 2 month old daughter is also doing very well.
Continuing coverage through COBRA will cost us ~$2800 for those 60 days until my new job’s health insurance starts.
Here’s the main question: Can I “hold off” on electing COBRA for that 60 days hoping that we won’t need it for anything, but if something crazy does happen elect then to start it since it’s retroactive? Or if there is a health/illness event that requires the coverage, can I no longer opt to use it for the purpose of covering that event?
Obviously I would rather pay a few hundred bucks out of pocket for a couple of routine pediatric office visits than $2800 for COBRA.
submitted by /u/shaggybill
[link] [comments]
Disclaimer: I know nothing about COBRA. I quit my job on Friday, started my new job on Monday. New job’s health insurance doesn’t kick in for 60 days. COBRA with old job gives me 60 days to elect to continue coverage. If I understand correctly, if I elect it at any point during the 60 day window, it is retroactive to the date I lost coverage through my employer. I am a <40 healthy male, my wife is <35 healthy female. Our 2 month old daughter is also doing very well. Continuing coverage through COBRA will cost us ~$2800 for those 60 days until my new job’s health insurance starts. Here’s the main question: Can I “hold off” on electing COBRA for that 60 days hoping that we won’t need it for anything, but if something crazy does happen elect then to start it since it’s retroactive? Or if there is a health/illness event that requires the coverage, can I no longer opt to use it for the purpose of covering that event? Obviously I would rather pay a few hundred bucks out of pocket for a couple of routine pediatric office visits than $2800 for COBRA.
submitted by /u/shaggybill [link] [comments]Read Morer/HealthInsurance