Chris C
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Your insurance coverage does not stay in effect by law, it depends on what your company has arranged. I've seen companies that provide benefits for as long as 6 months after you are terminated.
You do have up to 30 days after you are terminated to convert your benefits to an individual policy typically without providing medical evidence. During this time period you ussually aren't covered though. |
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Lori S
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If you mean stay in effect with no action on your part? No-there is no state or federal law that says your insurance has to stay in effect for a certain amount of time. That is decided by your employer and all that info should be provided to you when you terminate.
If your employer has more than 20 employees on the group plan, they must by Federal law, offer COBRA. It is the same benefit and coverage that the other employees of your previous company have. That is also a Federal law. What is different is the amount of the premium that you pay. Since you are no longer employed with the company, the company is no longer obligated to pay their portion of the premium. You will have to pay the full amount plus up to a 2 percent administration fee.
Your employer has up to 30 days to notify your insurance that you have terminated. The insurance company has 14 days from that date to get the election form to you. From that date, you have 60 days to elect or refuse COBRA and you have 45 days from the time you elect COBRA to pay the first month's premiums. This coverage will go back to the date that you lost the coverage so that there is no break in coverage.
There are many things you can find out about COBRA on this link:
http://www.dol.gov/ebsa/faqs/faq_consumer_cobra.html |
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harpertara
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You normally have until the end of the month of your termination month to get other insurance. There is a type of insurance you can get from your current employer (if you are terminated or retire) but it is very expensive. If you were terminated from insurance for failure to pay the premium, then, no, there is no extra time given. |
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HealthQuote360.com
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If you work for a company that has 20 or more full time employees then you will be eligible for COBRA.
COBRA is simply a continuation of the exact same group coverage that you had while working and lasts for usually 18 months.
COBRA is usually quite expensive and it only makes sense to take the COBRA coverage if one is not healthy enough to purchase cheaper coverage elsewhere. Here is some more information on COBRA health insurance: |
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Insurance Pickle.com
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60 days is the number they're looking for (not to be confused with the 63 days between policies).
First the answer is no. They can drop you right away. They then have to notify you about COBRA (IF and only IF they fall under COBRA's guidlines - not all companies do). COBRA would just continue from that point for up to 18 months. It's the same plan with the same carrier with no gap in coverage. |
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stephenweinstein
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Not automatically. Only if (1) the business is large enough for COBRA to apply, 2) you elect to keep it under COBRA within 60 days, (3) you pay the premium within 45 days of electing to keep it. |
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Rick B
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Yes, provided you pay for it. You are entitled to keep your insurance under COBRA but you have to pay the full premiums. |
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mbrcatz
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No, it's not governed by any law or statute. It's actually governed by CONTRACT LAW, which says, it stays in effect as long as the contract (the insurance policy) says it does.
Typically, it's either the day after you last worked, or the last day of the month in which you worked, depending on how the contract (policy) was initially set up.
Then, if the employer is subject to Cobra, they are required to offer you the option of keeping your insurance for up to another 18 months, at YOUR cost. |
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rtfm
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It will stay in effect, but you'll have to pay for it. COBRA rates are substantially higher than what you've been paying through your company. If you're terminated, the HR department is required by law to send you information explaining all your options. |
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Wendy S
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They do have to give you notice of termination and the number of days required varies by the reason for the termination and your state's laws, but unless you were covered through your employer and eligible for COBRA your policy ends on the termination, or cancellation date.
That said, sometimes terminations can be reversed. It depends on the reason for the termination. If you haven't provided information requested they may reinstate once they get the info. Or if the policy is terminating because you are late paying your premium you may be able to get it reinstated by paying the amount due.
The best bet is to check with the insurer and see what your options are.
Good luck! |
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I am, I said
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The insurance will stay in effect through the amount of time you are "paid up".
You will receive a packet, required by law, that will allow you to continue your insurance on your own (COBRA).
Be warned that this coverage will be very expensive and will not be the same policy you had before...it will cover much less. |
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David
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The cobra law says your employer must offer you the option of paying for your insurance from the company. You have 30 days to decide. They must give you an information packet explaining the cost. |
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