Q:My husband and I are on Cobra as I was laid off in Oct 09. My former employer is paying the 65% of our Cobra. I may be offered a job that gives you 250.00 dollars a month. This may go towards benefits of your choosing or prescriptions, or other health related issues. This is also a job where the hours vary week to week. Right now it is part time. If you do not use the funds by July of each year you lose it. It does not come close to what we have now on Cobra. Can we stay on Cobra at the reduced rate for our 15 months?
A:With the Cobra reduction, if you are eligible for other health insurance coverage, you are no longer able to receive the reduced rate for your Cobra coverage.So you can continue your coverage through Cobra if you don’t want to elect your new coverage through the new job.But your Cobra will no longer be at a reduced rate.You would need to notify your Cobra administrator and let them know of the changes.You can also find more information about this at www.dol.gov/COBRA
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