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You have 60 days to elect into Cobra and if you do it is retroactive. I’d wait it out until your new insurance kicks in, if you end up needing it you can elect in and pay the premiums, if not you owe nothing except you’ll have to pay a prorated individual mandate penalty for one month which will be minimal. Unfortunately the repeal of this doesn’t kick in until 2019.
If you left on good terms check with the partner/hr to see if you could use Jan 1 as a pto day. That way you get insurance all of January which is cheaper than cobra. I've seen it happen before
Wing it!
Don't get sick
KPMG 1 is correct in part. Just wing it until new coverage kicks in and retroactively elect cobra if needed. The coverage penalty doesn’t apply, however. I think you have up to 3 months with no penalty.
I believe the individual mandate does not hit you if you just go one or two months uninsured
Live a little
COBRA, didn’t they give you the federally required disclosure?
^great idea
You don't need it anymore, read the tax bill
Do what kmpg1 says. That’s the best approach
Thanks KPMG1, so if i do needed to go to doctor i can retroactively use my new company’s insurance? Where would i go to elect this. Sorry... for the stupid questions.. things they dont teach you at school...
I was wrong about the individual mandate, you can have a gap of up to three months without penalty, thanks @AS1 and @TA1
Currently on my parents plan which expire 12/31/17. Enroll in EY health for 1/1/18
Your new job might retroactively cover you from Jan 1, ask new employer. Assuming you don’t need to do doctor visits that’s the easiest way to go
Go to the doctor in december
Don’t follow @ey3s advice
Cobra is your old company’s insurance, basically the law is that you can keep your old insurance for a time, I think maybe up to 18 months, but the premiums are much higher because the company doesn’t subsidize them anymore. You should get a letter about this shortly after leaving your job.
Tell EY to terminate employment in 1/3.