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Trying to Figure Out RE Date
Old 04-28-2017, 05:02 PM   #1
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Trying to Figure Out RE Date

I have been anxiously awaiting this year since it is the year I turn 55 and although I should have sufficient funds, I wanted to have the option of 401K access if needed. I have been hoping to hold out until leaving at a date when I would have company medical coverage until end of June so that I had the option of COBRA through the end of 2018. Although it would be a daily struggle, I decided I would work until June 2 and bits of vacation to make it through these last couple of months. But, in addition to my boss refusing for me to take earned vacation time (which I will be losing accruaral due to max accrual amount), I apparently work for rare MegaCorp that healthcare is paid for the month even if your last day is first day of the month. They only cover through your final paycheck date, so best case, one week after your last day. So, I guess what I am wondering is how to deal with the healthcare insurance issue. If I were to leave in say two weeks and take COBRA this year and next year, COBRA would run out in Nov. of 2018. Assuming ACA stays the same or similar to current situation, my plan was to switch from COBRA to whatever insurance I got through ACA in Jan. 2019. Can you start ACA plan mid year if no insurance, e.g., COBRA runs out. If not, how wold you handle "gap" insurance of month or two between COBRA and ACA plan.
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Old 04-28-2017, 06:11 PM   #2
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The way the present ACA works is that you can start new insurance if you previous one runs out. This can happen any time of the year. If you stop COBRA early, then you can only get ACA during open enrollment.
The ACA special enrollment has a +/-60 day window from when you loose insurance. To keep continuous coverage you will need to apply for new insurance well before your cobra ends. The application must be done mid-month before your insurance ends.
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