Losing a job is stressful enough. What most people do not realize is that the day work-based coverage ends, several deadlines start running at once. Miss one, and you can end up uninsured for months or paying far more than you need to.
This quiz walks through eight decisions people face after a layoff, a resignation or a cut in hours. Each answer explains the rule in plain English and what to do next.
How it works: pick A, B, C or D, then turn the page to check your answer. Keep score as you go.
Question 1 of 8: The COBRA letter
Your coverage ended on the last day of the month, and a COBRA election notice arrives a few weeks later. How long do you generally have to decide whether to elect COBRA?
- A. 7 days
- B. 30 days from your last day of work
- C. At least 60 days, counted from the later of the notice date or the date coverage ended
- D. Until the end of the year