COBRA - gramd Posted: Aug 30th, 2017 - 5:03 pm In Reply to: I was told this by a friend--don't know if it is true. - sm
You have only 60 days to elect COBRA. That is, by the 60th day from when the written notice was sent to you or from when your health care coverage has been terminated, whichever event is later. This happened to us years ago. I left my job and COBRA was ridiculously expensive, so we just rode it out until I found another job. Fortunately, or unfortunately, which ever way you look at it, my husband had a serious injury requiring surgery on the 58th day, so we picked up COBRA for 1 month until my new insurance kicked in. I would suggest doing the same. Also, on the ACA, there is no pre-existing condition restriction, so unless you are on chronic medications that cost a ton, you can sign up for that at the last minute as well if something happens before you gain new coverage.
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