COBRA in between jobs
So I'm in a new job and of course the new healthcare doesn't kick in until 90 days. So I've searched back through the old threads and it looks like I can elect the COBRA option from my old employer (that covers myself and spouse) but not actually pay anything unless I need the cover and then it kicks in back to the day I lost cover from the old employer? Is that correct? Don't want to be caught out without cover in this 90 day period.
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Re: COBRA in between jobs
Originally Posted by Sheepdip
(Post 11807942)
So I'm in a new job and of course the new healthcare doesn't kick in until 90 days. So I've searched back through the old threads and it looks like I can elect the COBRA option from my old employer (that covers myself and spouse) but not actually pay anything unless I need the cover and then it kicks in back to the day I lost cover from the old employer? Is that correct? Don't want to be caught out without cover in this 90 day period.
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Re: COBRA in between jobs
Originally Posted by Giantaxe
(Post 11807946)
Almost. The limit is 60 days on activating COBRA from your previous job's termination date. I have done what you are suggesting several times and in the end never needed to activate my COBRA coverage. In your case you are going to have a problematic 30 day window.
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Re: COBRA in between jobs
OCare fine issue?
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Re: COBRA in between jobs
When I was late paying an invoice for my COBRA dental insurance they cancelled it incredibly quickly and there was no way to re-instate it. It's not a risk I'd take in your position.
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Re: COBRA in between jobs
Originally Posted by Boiler
(Post 11807981)
OCare fine issue?
https://www.healthcare.gov/exemption...ails/short-gap |
Re: COBRA in between jobs
Originally Posted by sir_eccles
(Post 11808016)
A couple of months is likely to be covered under the short gap exemption. Also Cobra coverage is sufficient to avoid the fine.
https://www.healthcare.gov/exemption...ails/short-gap (Arguably you'd have never had it at all - I can't recall how the question is worded on the tax return, but have vague memories of 'did you have continuous healthcare coverage throughout 201x', which would probably have to answered as 'no' because you don't have coverage under an insurance if you don't pay the premiums.) 90 days as a window is really unfair and problematic! There's probably no simpler solution than 3 months of ACA coverage at whatever the cheapest rate is, and finger crossing. |
Re: COBRA in between jobs
Originally Posted by kodokan
(Post 11808048)
90 days would be too long, though, as the exemption is only 2 months.
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Re: COBRA in between jobs
Originally Posted by sir_eccles
(Post 11808059)
Depends when he changed jobs. Also it is December so the new tax year starts soon. Half the time in 2015 and half in 2016, he'll be fine.
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Re: COBRA in between jobs
Originally Posted by kodokan
(Post 11808048)
90 days as a window is really unfair and problematic! There's probably no simpler solution than 3 months of ACA coverage at whatever the cheapest rate is, and finger crossing.
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Re: COBRA in between jobs
Originally Posted by sir_eccles
(Post 11808059)
Depends when he changed jobs. Also it is December so the new tax year starts soon. Half the time in 2015 and half in 2016, he'll be fine.
ACA Treatment of Coverage Gaps | Obamacare Fine Calculator |
Re: COBRA in between jobs
Originally Posted by Sheepdip
(Post 11808062)
My 'loss of coverage' was 10/31
Note that the Marketplace requires a minimum 14 day notice to cancel a policy; they can't just do it on the spot. I don't know if any refund would be due for part-months, as I cancelled mine to finish 14 days later on something like the 28th August, and couldn't be bothered to try and find out if I was due a rebate for those few days. |
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