How do I cancel COBRA?

[disneysteve]

I just signed us up for insurance through the ACA beginning January 1. We're currently on COBRA. I reached out to the COBRA administrator to find out what I need to do to cancel that but got an auto-reply that they are closed until Tuesday.


What's the typical process, if there is one? Do I need to formally cancel COBRA or do I just not pay my January premium and they'll drop me automatically?


Of course, I'll await their answer next week but figured people here would have experience on this.

 

[Montecfo]

Just don't pay. But also good to inform.

 

[disneysteve]

Just don't pay. But also good to inform.

Exactly my thought.

 

[ut2sua]

Just don't pay. But also good to inform.

I would do this too. Stop paying will terminate, but informing will make it cleaner. In either case, the policy will terminate at the end of the last paying month.

 

[GenXguy]

Just don't pay. But also good to inform.

No, don't just "not pay."

I just canceled my COBRA. Contact them for certain.

I called them up, and they said I needed to send an email that stated my ex-employer name and the stop date of my COBRA insurance and the start date of my new insurance (ACA plan).

I hadn't made my December payment for COBRA yet since I've been paying at the end of the month all along, so they said I needed to do that before I cancel. So I made my payment, and they said after the funds clear, they will cancel. I'll follow up if I don't hear anything by Tuesday to confirm.

 

[disneysteve]

I hadn't made my December payment for COBRA yet since I've been paying at the end of the month all along, so they said I needed to do that before I cancel.

That's great advice. I just checked and we also pay at the end of the month so our December coverage hasn't been paid yet. I will need to make that payment as scheduled.

 

[Romer]

Just don't pay. But also good to inform.

That is what I did last year

 

[big-papa]

I cancelled mine last week. My administrator has a web portal and it was pretty easy. I received confirmation right after.

Cheers

 

[GenXguy]

My web portal allows me to pay but not cancel.

I did check today and noticed they have posted a pdf of a letter that I would need to sign for reenrollment for insurance for 2024, and the premium is 33.4% higher! Wow - it was already high at nearly $1000/mo in 2023, just for health coverage (no dental/vision). Glad I'm not sticking with it. Inflation seems to be hitting me as hard as ever, although I'm dodging this particular increase.