Marketplace Health Individual Health Ancillary Plans Life Insurance Dental & Vision Get A Quote Home Page

Q. I have COBRA coverage until June of 2014. When it runs out can I get a health insurance policy from my state Health Insurance Marketplace? Or can I drop it early and select marketplace coverage as of January 2014?

A. COBRA gives workers and their families who lose their health benefits because of job loss and certain other events the right to continue coverage for limited periods of time. You usually have to pay most or all of the premium on your own.  

If you’re already enrolled in COBRA, during open enrollment—which continues until March 31, 2014—you’ll be able to shop for a marketplace plan. You can drop your COBRA when your new coverage starts.

The soonest that can happen is Jan. 1, 2014, because that’s the earliest that marketplace plans can start. If you enroll in a marketplace plan before Dec. 15, coverage will start on January 1. If you wait until later in December, coverage won’t start until Feb. 1.

If you don't register for a marketplace plan during this year's open enrollment, you'll be stuck with your COBRA either until the next open enrollment period starts (in October, 2014) or until your COBRA runs out (in your case, June 2014) or until you have some other "qualifying event." Other events that give you a opportunity to buy a market place plan out of season include divorce or the death of a spouse.

Share |

No Comments

Post a Comment
Required (Not Displayed)

All comments are moderated and stripped of HTML.
Submission Validation
Change the CAPTCHA codeSpeak the CAPTCHA code
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive

View Mobile Version

Get Started

Home Page
About Us
Get A Quote
Our Partners
Read Our Blog
Contact Us

Marketplace Health
Individual Health
Ancillary Plans
Life Insurance
Dental & Vision
More Insurance Types

5100 NW 33 Ave.
Suite 140
Fort Lauderdale, FL 33309

888.316.1913 fax

Blog RSS Feed