Turning 26 in May, so will be kicked off insurance at the end of may. I submitted an application to buy insurance last night (apparently I should have done this earlier), and now have to wait to hear back from my state’s medicaid office. I know I won’t qualify, but they told me it will take 30-45 days to hear back. This could leave me without insurance if they take 35+ days. So my questions are:
1) How long will it take me to actually be covered by insurance? For example, if I get denied on June 3rd and sign up for a plan that day, will I be covered on June 4th, or will I have to wait until say July 1 or a later date?
2) If I decide I want to sign up for Cobra so that I’m covered, what is the latest date I could do so to be covered by it? Basically, I don’t want to be covered by Cobra if I don’t have to, but I don’t want to be uninsured, so if the Medicaid office takes 45 days to figure out that salary x is greater than salary y, I would get get Cobra. Ideally I would wait as long as possible to see if I need to get Cobra
3) How long do you have to stay on Cobra? If I start Cobra Coverage on Jun 1 and am able to get insurance on June 6th, how quickly can I cancel? I assume I would need to pay for at least a month?
submitted by /u/marksills
[link] [comments]Turning 26 in May, so will be kicked off insurance at the end of may. I submitted an application to buy insurance last night (apparently I should have done this earlier), and now have to wait to hear back from my state’s medicaid office. I know I won’t qualify, but they told me it will take 30-45 days to hear back. This could leave me without insurance if they take 35+ days. So my questions are: 1) How long will it take me to actually be covered by insurance? For example, if I get denied on June 3rd and sign up for a plan that day, will I be covered on June 4th, or will I have to wait until say July 1 or a later date? 2) If I decide I want to sign up for Cobra so that I’m covered, what is the latest date I could do so to be covered by it? Basically, I don’t want to be covered by Cobra if I don’t have to, but I don’t want to be uninsured, so if the Medicaid office takes 45 days to figure out that salary x is greater than salary y, I would get get Cobra. Ideally I would wait as long as possible to see if I need to get Cobra 3) How long do you have to stay on Cobra? If I start Cobra Coverage on Jun 1 and am able to get insurance on June 6th, how quickly can I cancel? I assume I would need to pay for at least a month? submitted by /u/marksills [link] [comments]Read Morer/HealthInsurance