What if I can not afford to pay the full premium for the remaining 3 months?
It is very important to pay the remaining 3 months if at all possible, as you lose some health coverage rights or options if your COBRA is terminated for non-payment. Individuals who exhaust their COBRA are eligible to obtain coverage through state high risk pools and also qualify for special enrollment in a spouses plan. These rights are lost if an individuals COBRA is terminated for non-payment. (Note: If a person becomes eligible for coverage in a new employers plan or spouses plan, they lose eligibility for the subsidy and are required to notify their COBRA provider of their eligibility for the other coverage.) If you have limited income and resources (assets), you may want to contact your state to determine if you are eligible for Medicaid or other programs that may assist you in obtaining assistance with health coverage.
Related Questions
- If the employee is required to pay only 35% of the premium, how is the employer reimbursed for the remaining 65% of the premium?
- I am planning to spend 8 months in Europe and 4 months in other countries around the world. What premium do I pay?
- How can Aetna afford to pay our Medicare Part A and B claims for such a low premium?
