Cobra transition to ACA question

[MichaelB]

Let's remember to keep this friendly. We can all disagree without being disagreeable.

 

[ivinsfan]

Yes they are. If you send in the form saying you elect to sign up for COBRA, then you are on the hook to pay the premiums for the entire 60-day election period plus however many months you stay enrolled after that, and you are subject to whatever bill collection method the insurance company uses. If you send in the form on Day 1 and cancel on Day 60, you don't have to pay the premiums for those two months until Day 105, but you do have to pay them. If you never send in the form, then none of your medical claims will be paid but you won't owe any premiums either.

However, you really can legally and non-fraudulently wait until the 60th day to decide whether to elect COBRA coverage. If you break your leg on the 31st day of your 60-day election period, you can still send in the form up until the 60th day and your broken leg will be covered. As far as I know, COBRA is the one and only kind of insurance that you can purchase retroactively.

The problem for OP is that if he takes the wait-and-see approach, there is a risk that he has some medical issue late in the 60-day period that prevents him from sending in the form, or that he needs medical care on New Year's Eve. He will have to figure out his risk tolerance for such events.

Broadways comment that waiting can leave you in a insurance limbo with providers and hospitals can be a concern too. And I guess at some point they might shorten that 60 day period too if they feel too many people are trying to game the system.

 

[ivinsfan]

Lol, Ivinsfan to the moral rescue. You must have a really high perch to look down among the minions and judge.

It's interesting that health care has become such a third-rail and polarizes people. Whether it's ACA and income management, Christian based health plans, Medicare for all, or trying to use COBRA for a couple months of free health care. I can't think of any other subject where people get so focused on getting something for free or pounding on people that don't agree with them.

I said IMO it's fraud to use something and not pay for it. If you don't agree that's fine. I'd tell you the same thing if you were asking about your light bill or your cell phone bill. You might ask yourself what I've said that could possibly tick you off so much that all you can do is come here and slam someone personally without even responding to the original topic.Perhaps you need to put me on ignore if you are just going to read my posts and seethe inside.

 

[broadway]

Broadways comment that waiting can leave you in a insurance limbo with providers and hospitals can be a concern too. And I guess at some point they might shorten that 60 day period too if they feel too many people are trying to game the system.

It definitely should be a concern.

It happened to me as I was transitioning to COBRA.

I still remember them using my insurance ID to look up my coverage and being told I had none.

Because I had been a patient with that practice for several years, they were willing to do the ultrasound in-house and bill me for it.
If I had gone to a place that specialized in ultrasounds, I would have had to pay immediately and wait for the insurance company to reimburse me.
Fortunately the paperwork for the COBRA went through by the time the payment was due.

 

[jim584672]

I did the two month free ride when I quit. Then started ACA in January.

 

[RetireAge50]

I did the two month free ride when I quit. Then started ACA in January.

Same here.