Child Only

[Yagents]

kid takes cobra wont be able to get exchange until cobra exausted

I don't think that is the case until after the first open enrollment period ends mar 31st. But, I may be wrong

 

[riskybiz]

Where are you guys hearing that you have to exhaust COBRA before going on exchange?

 

[Ann H]

Where are you guys hearing that you have to exhaust COBRA before going on exchange?

That is true for an SEP, but not open enrollment. At open enrollment, any eligible person can enroll. After open enrollment, you need an SEP to enroll mid-year. If you lost your qualifying group coverage, that opens an SEP. But if you take COBRA, then you have not lost coverage and you have to wait until COBRA is exhausted before you have another SEP for loss of coverage. Unless, of course, open enrollment comes up again before COBRA is over.

 

[taterpeeler]

can we get conformation on this?

 

[Dave020]

can we get conformation on this?

However, COBRA coverage does have an effect on Exchange plan coverage.

During the Exchange plan annual open enrollment, QBs who are enrolled in COBRA coverage can enroll for Exchange plan coverage effective for the January 1st following the open enrollment. These QBs can drop COBRA on January 1 and rely on the Exchange plan coverage but are not eligible for a subsidy for the Exchange coverage until the COBRA period would have been exhausted.

Similarly, a QB who has their COBRA coverage terminated early for non-payment of premium, can enroll in the Exchange during the annual open enrollment period but is not eligible for an Exchange plan subsidy until the COBRA period would have been exhausted.

Finally, individuals who lose group health plan coverage during the year are offered COBRA. If the QB waives COBRA, they are eligible to enroll in the Exchange during a 60-day special Exchange plan enrollment period and could receive a subsidy. However, if the QB elects COBRA, they are still eligible to enroll in the Exchange during the 60-day Exchange plan special enrollment period but would not be eligible to receive a subsidy.

Compliance Buzz: Benefits Legislation, Regulations and Health Care Reform - Health Care Reform and COBRA

 

[taterpeeler]

good deaL... that makes me happy

 

[Dave020]

This may hurt a lot of subsidy-eligible people in states like CA who go onto continuation this summer/fall. Many in CA get 36 months continuation coverage (18 federal + 18 Cal-COBRA) so their run out to subsidy if they elect before PPACA means no subsidy for until perhaps 2017!

 

[Ann H]

Compliance Buzz: Benefits Legislation, Regulations and Health Care Reform - Health Care Reform and COBRA

Thank-you for that, Dave020, that summarized in one place the information I was getting for 2 or 3 sources.

 

[Yagents]

Wow, that is HUGE. I have a couple right now that is applying tomorrow where it made sense for him to take cobra, and her to get an IFP. They are both 63 and under 62k of income, and we expected to get HUGE subsidies ($1200/mo) in Jan. But now, it might make more sense for both to get IFP if I'm reading this right.

Thanks to Dave, you just put some extra money in my pocket now, and next year, and probably just won a couple medicare clients for life too.

This is just evidence that agents can unknowingly be giving bad/good advice right now, and the the exchanges haven't even launched yet.

Looks like I need to change my website from ReplaceCobra.com to DoNotAcceptCobra.com

 

[WCMason]

Wow, that is HUGE. I have a couple right now that is applying tomorrow where it made sense for him to take cobra, and her to get an IFP. They are both 63 and under 62k of income, and we expected to get HUGE subsidies ($1200/mo) in Jan. But now, it might make more sense for both to get IFP if I'm reading this right.

Thanks to Dave, you just put some extra money in my pocket now, and next year, and probably just won a couple medicare clients for life too.

This is just evidence that agents can unknowingly be giving bad/good advice right now, and the the exchanges haven't even launched yet.

Looks like I need to change my website from ReplaceCobra.com to DoNotAcceptCobra.com

Not an expert in the under 65 health insurance world, but I do believe the upcoming Open Enrollment in October would allow him to be free from the dreaded COBRA in this year of the snake.

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