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If you quit a job are you eligible for COBRA?

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monkeybride
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If you quit a job are you eligible for COBRA?

or is it only if you are let go?

Posted 10/4/09 2:11 PM
 
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Kerie-is-so-very
versatile!

Member since 5/05

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K

Re: If you quit a job are you eligible for COBRA?

I was eligible. I do not think that the law has changed since then.

Posted 10/4/09 2:54 PM
 

HeatherRose
Life is Good :)

Member since 11/07

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Re: If you quit a job are you eligible for COBRA?

everyone is eligible for cobra if you were already on the company health insurance plan. Its actually a law, that they MUST offer you cobra.

If you quit, you are entitled to 18 months coverage. You have to pay the company you work for 100% for the coverage you had in place + they are allowed to charge you a 10% fee every month.

If you are fired, you must be offered cobra as well, but you will only have to pay 35%, the employer pays the rest, and can claim in on their quarterly payroll tax return to be refunded for the money they laid out.

Posted 10/4/09 9:30 PM
 

monkeybride
My Everything

Member since 5/05

20541 total posts

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Re: If you quit a job are you eligible for COBRA?

Thanks. That is very helpful.

Posted 10/5/09 4:40 PM
 

smdl
I love Gary too..on a plate!

Member since 5/06

32257 total posts

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me

Re: If you quit a job are you eligible for COBRA?

Yes, you are eligible.

BUT someone correct me if I am wrong but you don't have to enroll right away. By that I mean you don't have to sign up right away if you think you won't need it right away and will find another job.

For example. You quit in September, nobody is sick or need a Dr. appts (get those done with vision and dental PRIOR to quitting!!). Get new job, get health insurance.

Let's say someone gets sick 2 months after you quit and you still don't have health insurance, you can STILL be covered by COBRA. You will just pay retroactive from what you would have paid if you had signed up from the day you no longer have health insurance.

So you don't have to pay COBRA or enroll and spend $$$ if you think you won't need it. BUT if you do and you did not sign up, you can STILL sign up later. So if 2 months went by after you quit and still no health insurance and someone gets sick and needs medical attention. You then get COBRA, pay the 2 months retroactive.

COBRA is $$$$ and covers you and those that were under your current health insurance for 18 months.

HTH!

Posted 10/5/09 5:54 PM
 

nrthshgrl
It goes fast. Pay attention.

Member since 7/05

57214 total posts

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Re: If you quit a job are you eligible for COBRA?

Posted by smdl

Yes, you are eligible.

BUT someone correct me if I am wrong but you don't have to enroll right away. By that I mean you don't have to sign up right away if you think you won't need it right away and will find another job.

For example. You quit in September, nobody is sick or need a Dr. appts (get those done with vision and dental PRIOR to quitting!!). Get new job, get health insurance.

Let's say someone gets sick 2 months after you quit and you still don't have health insurance, you can STILL be covered by COBRA. You will just pay retroactive from what you would have paid if you had signed up from the day you no longer have health insurance.

So you don't have to pay COBRA or enroll and spend $$$ if you think you won't need it. BUT if you do and you did not sign up, you can STILL sign up later. So if 2 months went by after you quit and still no health insurance and someone gets sick and needs medical attention. You then get COBRA, pay the 2 months retroactive.

COBRA is $$$$ and covers you and those that were under your current health insurance for 18 months.

HTH!



That's correct. Double check the paperwork. I believe it's 90 days. BUT, it is a risk you are taking.

I advised a friend if he were opting to do that, to write a check out, fill out the paperwork & give it to a family member not living in their house to send in if there was an accident, etc. The last thing you would want is for that date to pass while you were hospitalized or too incapacitated to fill out that paperwork. Even then, I'd be wary.

etd. also with the new healthcare legislation that passed, COBRA is now 35% less & it may even be extended past the 18 months. I'm not sure. It's been awhile since I had to layoff someone & explain it.

Message edited 10/5/2009 9:45:23 PM.

Posted 10/5/09 9:44 PM
 

monkeybride
My Everything

Member since 5/05

20541 total posts

Name:

Re: If you quit a job are you eligible for COBRA?

I've got kids in weekly OT and PT so we'll definitely need it.
DH has a job offer but they have a 30 day waiting period and I don't want a lapse in coverage because of pre existing conditions on myself and the kids. So we just wanted to make sure COBRA would be an option.

Posted 10/5/09 10:49 PM
 

smdl
I love Gary too..on a plate!

Member since 5/06

32257 total posts

Name:
me

Re: If you quit a job are you eligible for COBRA?

Posted by nrthshgrl

Posted by smdl

Yes, you are eligible.

BUT someone correct me if I am wrong but you don't have to enroll right away. By that I mean you don't have to sign up right away if you think you won't need it right away and will find another job.

For example. You quit in September, nobody is sick or need a Dr. appts (get those done with vision and dental PRIOR to quitting!!). Get new job, get health insurance.

Let's say someone gets sick 2 months after you quit and you still don't have health insurance, you can STILL be covered by COBRA. You will just pay retroactive from what you would have paid if you had signed up from the day you no longer have health insurance.

So you don't have to pay COBRA or enroll and spend $$$ if you think you won't need it. BUT if you do and you did not sign up, you can STILL sign up later. So if 2 months went by after you quit and still no health insurance and someone gets sick and needs medical attention. You then get COBRA, pay the 2 months retroactive.

COBRA is $$$$ and covers you and those that were under your current health insurance for 18 months.

HTH!



That's correct. Double check the paperwork. I believe it's 90 days. BUT, it is a risk you are taking.

I advised a friend if he were opting to do that, to write a check out, fill out the paperwork & give it to a family member not living in their house to send in if there was an accident, etc. The last thing you would want is for that date to pass while you were hospitalized or too incapacitated to fill out that paperwork. Even then, I'd be wary.

etd. also with the new healthcare legislation that passed, COBRA is now 35% less & it may even be extended past the 18 months. I'm not sure. It's been awhile since I had to layoff someone & explain it.



Good point on "in case of emergency". I just wanted to point out to those who don't know you don't have to sign up for it right away. I know a few people who wished they had waited since they never needed it and spend $400 per month on it for nothing since it was retroactive anyway. I did not remember the 90 days though.

Posted 10/5/09 10:55 PM
 
 

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