How does cobra work?
All New York State employers with three or more employees are required to offer their employees continuation of coverage through COBRA (Consolidated Omnibus Budget Reconciliation Act). Once employees or their dependents become ineligible for coverage through their employer, they would become eligible to elect COBRA coverage. The employer would be responsible for notifying the employees of their option to elect COBRA and provide the employees with COBRA’s monthly premium information. The eligible employees or dependents would have 60 days from the date of notification to fill out the appropriate paperwork and pay the first month’s premium. Once this occurs, their coverage will be reinstated without a lapse in coverage. Employees eligible for COBRA may continue their coverage typically for 18 months. Dependents coming off of an employee’s policy are eligible for COBRA for 36 months. Once members are no longer eligible for COBRA, then they would have the option of enrolling in a Direct Bi
To be eligible for COBRA coverage, you must have been enrolled in your employers health plan at the time of termination and the health plan must continue to be in effect for active employees. COBRA continuation coverage is available upon the occurrence of a qualifying event that would cause an individual and/or dependents to lose health care coverage. When you are no longer eligible for health coverage, your employer has to provide you with a specific notice regarding your rights to COBRA continuation benefits. You then have a certain period of time in which to elect COBRA and pay the premium for the coverage you have elected in order to be reinstated with no lapse in coverage. COBRA coverage begins on the date that health care coverage would otherwise have been lost by reason of a qualifying event. As long as you pay your premium on time, you will be covered for the period of time for which you qualified for COBRA benefits.
- How does Anthem notify a potential Qualifying Beneficiary of their rights and obligations under COBRA for those plans that have contracted with Anthem to provide COBRA administration services?
- May a Qualified Beneficiary add a person as a dependent as a result of marriage or birth while covered under COBRA continuation coverage?
- How much does the Plan charge Qualified Beneficiaries for COBRA coverage and how are premiums for this coverage determined?