Cobra insurance for two weeks, do I have to actually pay? Or can I retroactively buy it if needed?
I am leaving my job and will be without insurance for approximately two weeks. I have access to COBRA health insurance.
From here:
If, in those 45 days, you secure other coverage either through your new employer or somewhere else and you didn't have any health care claims, you simply don't pay your COBRA premium. It means you didn't really have COBRA, but you had the option available.
Does this mean that COBRA basically is a "if you use it you can buy it" insurance? That if I don't sign up initially I can sign up retroactively if I need it?
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My experience with leaving a job and COBRA coverage matches your understanding.
Approximately 3 weeks after my last day I received the paperwork, the deadline for completing the paperwork was 45 days after the end of the insurance coverage.
Therefore I had coverage with the new employer for several weeks before I had to decide if I retroactively needed the COBRA coverage.
Because my family didn't have any major medical issues during that window I never had to purchase the coverage.
I have used the same logic during my lat 3 job changes. Though now with the Affordable care Act if you needed coverage the national or state exchange is another source of insurance that you may have.
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