Hi Everyone,
I am going to be starting a new job soon and it’s going to leave me without Health Insurance for 7 weeks so I want to weigh my options for Cobra, especially with the Pandemic now.
So I understand the basics of Cobra Coverage in the sense that it’s an opportunity to continue my health insurance from my previous employer at full cost with no contribution on their part and it can raise the monthly premium quite a bit.
I also understand that I have 60 days to make a decision on electing to take Cobra Coverage, and that you can even “retroactively do that”. For example, employment ended on 2/17 but I could still effectively get back coverage to 2/1 so I don’t miss the whole month of Feb. coverage.
I also know that I have to pay the full sum up to present day if I do elect to do it.
So here’s my “Cobra Coverage for Dummies” question though:
Do I have the right with Cobra coverage to “enact it” after I need to seek care, or is that basically the health insurance equivalent of crashing your car then taking out car insurance a day later and filing a claim?
Am I still allowed to make my election then and would it cover treatment?
This seems like it wouldn’t be true, but I want to ask so I understand Cobra better, especially with the option to back date it. That just doesn’t seem to be logical unless there is a good reason.
submitted by /u/AWlkingContradction
[link] [comments]Hi Everyone, I am going to be starting a new job soon and it’s going to leave me without Health Insurance for 7 weeks so I want to weigh my options for Cobra, especially with the Pandemic now. So I understand the basics of Cobra Coverage in the sense that it’s an opportunity to continue my health insurance from my previous employer at full cost with no contribution on their part and it can raise the monthly premium quite a bit. I also understand that I have 60 days to make a decision on electing to take Cobra Coverage, and that you can even “retroactively do that”. For example, employment ended on 2/17 but I could still effectively get back coverage to 2/1 so I don’t miss the whole month of Feb. coverage. I also know that I have to pay the full sum up to present day if I do elect to do it. So here’s my “Cobra Coverage for Dummies” question though: Do I have the right with Cobra coverage to “enact it” after I need to seek care, or is that basically the health insurance equivalent of crashing your car then taking out car insurance a day later and filing a claim? Am I still allowed to make my election then and would it cover treatment? This seems like it wouldn’t be true, but I want to ask so I understand Cobra better, especially with the option to back date it. That just doesn’t seem to be logical unless there is a good reason. submitted by /u/AWlkingContradction [link] [comments]Read Morer/HealthInsurance