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Q: Hi...I am looking into other insurance but have not been approved...when may I cancel cobra....refund of payment??? Also my last employment date was 7/30/2009...why would I pay for retro back to that date if I have had no health issues, Dr appointments or prescription filled????
A: When you get approved for other insurance you can cancel your Cobra coverage, you would need to do so either through your Cobra administrator if you know who that is, or your past employer whom you have your Cobra coverage through. When you elect Cobra coverage, it goes retro-active to your last day of benefits. Its like an “umbrella” of coverage, if something where to have happened to you in between the time you lost your benefits and the time you elected your coverage, you would have been covered. That is why you have to pay retro-actively.
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