Answer 3: B
Losing job-based health coverage is a qualifying life event. It usually opens a Special Enrollment Period on HealthCare.gov or your state’s marketplace. You generally have 60 days after the coverage ends to enroll, and you can often apply up to 60 days before it ends if you know the date in advance. It does not matter whether you were laid off, quit or had your hours cut.
To avoid a gap, enroll as early as you can. Coverage usually starts the first day of the month after you pick a plan.
Read more: How to qualify for a Special Enrollment Period after life changes.
Question 4 of 8: The switch that backfires
You elected COBRA. Three months later, the premium is too much and you want to drop it and buy a cheaper Marketplace plan in June. What usually happens?
- A. Dropping COBRA always lets you enroll in a Marketplace plan right away
- B. Choosing to drop COBRA usually does not open a Special Enrollment Period, so you may have to wait for open enrollment
- C. The Marketplace must accept you within 7 days
- D. Your old employer must give you a refund