Step by Step Guide To COBRA Health Benefits
When applying for benefits through COBRA after transitioning out of your current employer supplied group benefit plan, there are some timing deadlines that have to be met in order for COBRA to take affect.
Time Deadlines For COBRA Coverage Eligibility
With COBRA timeliness is of the utmost importance. For coverage to take affect for you in the allotted time period these steps need to have been taken care of by you and your employer:
• If you have been laid off, had your hours reduced, quit your job, or you enroll in Medicare, you or your employer must notify your benefits provider within 30 days in order to be eligible for COBRA benefits
• If you happen to be receiving benefits from your spouse, and you separate or divorce, you must inform your spouse’s employer in less than 60 days to be eligible
• If your child is no longer a dependent, you must inform your insurance company or your employer in less than 60 days
• If your family or spouse receive benefits from your plan and you separate or divorce you must inform your insurance company or employer in less than 60 days to be eligible
If you are applying for COBRA, there are limitations on how long you can receive coverage; the maximum for most situations is 36 months at the full premium cost depending on the reason for applying for COBRA. It’s very important to do your research through your current health provider if you are thinking of applying for COBRA since the details of coverage vary state to state depending on benefit and employer laws.