Is COBRA Insurance Retroactive?
With the new health care reform laws, will COBRA insurance still be retroactive and how does this works?
COBRA coverage is retroactive to the day after the original health insurance ended, as long as the election is made and any required premiums are paid. It continues without interruption, keeping the same benefits and terms as the original plan.
Any coinsurance already paid toward deductibles still counts, so there’s no need to start over with out-of-pocket costs. This ensures that eligible medical expenses during the gap period are covered under the terms of the plan.
What happens if I incur costs before COBRA starts?
If medical costs are incurred after the employer-sponsored health insurance ends but before COBRA coverage is elected, those expenses can still be covered retroactively once the COBRA election is complete.
However, any out-of-pocket expenses paid during this period may require filing a claim for reimbursement after the COBRA coverage is activated.
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What Is COBRA?
COBRA is a federal law that requires employers with 20 or more employees to offer the same group health care coverage after you’ve voluntarily or involuntarily left your job or have had your work hours reduced. Because COBRA is simply the same coverage you had through a previous employer, you would need to contact the COBRA Administrator at your previous employer to begin or cancel coverage. Typically, the COBRA Administrator is in the HR department or the company that sponsored the insurance may use a third party administrator.
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Do you have more COBRA questions? Try contacting a healthcare.gov certified insurance specialist. These COBRA customer service agents are licensed in all 50 states. They can offer advice and alternative plans that best suit your needs.
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