when to sign up for ACA starting February 2019?

[fh2000]

I plan to have my last working date on 1/4/2019. This date serves 2 purposes: to be eligible for 2018 annual bonus I have to be employed through the last day of 2018, and to have group insurance coverage for the month of January 2019. We then plan to sign up for ACA starting February 2019.

Covered California enrollment period is from Oct. 15, 2018, to Jan. 15, 2019. When should I sign up for ACA to begin the coverage starting February 2019? Should I wait until 1/1/2019?

 

[audreyh1]

Before Jan 15 likely, so I recommend signing up immediately in Jan for February 2019 coverage. Double check.

 

[Splash]

Because your employer provided healthcare is ending, you are not tied to the open enrollment dates.

I signed up about 6 weeks before my employer provided healthcare ended in 2017. However, I'm not sure how much Covered California differs from the Federal Marketplace.

 

[EastWest Gal]

Before January 15, pay before January 31.

 

[Retiree_Having_Fun]

Would there be an option of using COBRA for the first 60 days after your termination date.?

"You have 60 days after you lose your benefits to elect to pay for COBRA coverage. However, even if you enroll on Day 60, your coverage is retroactive to Day 1. Of course, you'll have to pay the retroactive premiums for that period."

The plan would be to cover JAN and FEB via cobra - but don't pay for it unless you need it. Then enroll for the Mar 1 start point thus saving 2 months of insurance.

 

[fh2000]

Would there be an option of using COBRA for the first 60 days after your termination date.?

"You have 60 days after you lose your benefits to elect to pay for COBRA coverage. However, even if you enroll on Day 60, your coverage is retroactive to Day 1. Of course, you'll have to pay the retroactive premiums for that period."

The plan would be to cover JAN and FEB via cobra - but don't pay for it unless you need it. Then enroll for the Mar 1 start point thus saving 2 months of insurance.

Yes. There is such 60 day grace period COBRA option for us.

This is our plan for 2019:
January -- use company group insurance. HR confirmed that with one day of employment, the whole month is covered.

February and onward -- use ACA (Kaiser Permanente Bronze HSA HMO). We expect to get subsidy with 2 bonuses as our main income plus some interest and dividend. ACA premium will be small. At the end of February, when bonuses issued, if for some wild reason, they exceed the income limit and cause us to lose subsidy, cancel ACA and sign up for CORBA. CORBA will cost the same as no subsidy ACA but with better networks.

 

[fh2000]

OP here.

I called CoveredCalifornia helpline, the dates to sign up for ACA to start on 2/1/19, are 12/16/18 thru 1/15/19.

My new question: We both do not have pension. We will only have dividends/interests, and 2 bonuses for 2019. What documents to prepare for the estimate of 2019 income? I have tax return for 2017 dividends/interests (about $15,000). But we are not sure how much the 2 bonuses will be until next February and there is no separate line on 2017 W-2 to list the bonus. It is simply added to the total of Wages. (Maybe I should call CoveredCalifornia again to find out)

 

[Willers]

What has worked for em (HC.gov so Covered Cal may be different) was a listing of the past year's MAGI and then a listing of the changes I expected with reasons (cap gains changes, income changes, bonuses, etc.). I itemized these and submitted that summary. I was quickly approved. I've found that they are fine if the estimates make sense.