Steelart99
Recycles dryer sheets
- Joined
- Apr 24, 2012
- Messages
- 184
So, I recently decided to call it done in early November and finally be FIRE'd.
My work Health Ins plan will cover me until the end of Nov. My understanding is that I have 60 days to select COBRA and 45 days after that to pay for it and still have retroactive coverage. If I don't pay for the coverage, then I'm just not officially enrolled. (3.5 month window)
I also have the option to sign up for ACA starting Nov 1st to Jan 31st 2017. If I enroll before the 15th of any month, my coverage starts the first day of the next month. If I enroll after the 15th of the month, I’ll have to wait until the month after that for my coverage to start. So, for example, if I enroll on January 16, my coverage would start on March 1.
So my tentative plan is to not select COBRA immediately so that I'll still be able to sign up with ACA. If I have a medical event I can enroll in COBRA ... if not, I don't need to do anything. That should have me covered for Dec/Jan/Feb. Then, I can sign up for ACA after Jan 16 to start coverage on March 1st.
Does this sound right?
My work Health Ins plan will cover me until the end of Nov. My understanding is that I have 60 days to select COBRA and 45 days after that to pay for it and still have retroactive coverage. If I don't pay for the coverage, then I'm just not officially enrolled. (3.5 month window)
I also have the option to sign up for ACA starting Nov 1st to Jan 31st 2017. If I enroll before the 15th of any month, my coverage starts the first day of the next month. If I enroll after the 15th of the month, I’ll have to wait until the month after that for my coverage to start. So, for example, if I enroll on January 16, my coverage would start on March 1.
So my tentative plan is to not select COBRA immediately so that I'll still be able to sign up with ACA. If I have a medical event I can enroll in COBRA ... if not, I don't need to do anything. That should have me covered for Dec/Jan/Feb. Then, I can sign up for ACA after Jan 16 to start coverage on March 1st.
Does this sound right?