How does COBRA work? I’m leaving PwC this week and my new job’s coverage won’t start until January 2022 thus leaving me to fend for myself in December. How does COBRA come into play here?

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Double check with your HR. I believe you can pay at end of month retroactively if you actually need I strange for the month....ie, go through Dec and if you don't use it, don't pay for it., but if you ended up needing significant coverage, then pay after the incident (something like that).

Check the rules/details.

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Agree with P1, it become retroactive if you need it but do check with your current employer. So let’s say you don’t need it then don’t select it and don’t pay for it. It may differe based on firms but the cost of COBRA plans could be super high.

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You have 60 days to opt-in for COBRA (HR will send you the paperworks after your separation), which can cover up to 6 months(?). So don’t sign up for it and if anything happens in Dec, you can later sign up for COBRA AND get covered as if you signed up right away.

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As others have said, COBRA is retroactive.

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If you leave on Dec. 1 or later in December, your insurance with PwC will cover you for that whole month.

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You pay the employer and employee portion of the health plan. So it’ll double in price.

That’s true. My mental math was off. Definitely more than double

I think it lets you keep your current insurance but you will have to pay all the premium out of your own pocket, which can be super expensive…I recommend just living one month without health insurance or get a cheaper option in market

Keep in mind for certain states like California you will need health insurance for the entire year or you will pay a penalty.

Most states will let you have a gap of a few months for people changing jobs. Even the federal penalty had a 3 of 12 month exception when the penalty existed.

You can go without coverage between jobs and (1) save the premiums if you don’t need care or (2) if you do need care you have a period of time to RETROACTIVELY file for Cobra. Ask HR what the time frame is.

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