Can You Enroll in COBRA After Losing Job and Pregnancy Ends?
If you lose your job while pregnant and have been receiving health insurance through your employer, you may be wondering if you can enroll in COBRA and switch to your spouse’s company’s health insurance after your baby is born.
What is COBRA?
COBRA is a federal law that allows employees who lose their job to continue their health insurance for up to 18 months. However, you will have to pay the full cost of the premiums, which can be expensive.
Can You Drop COBRA After Baby is Born?
Yes, you can voluntarily cancel COBRA coverage at any time. However, dropping COBRA after a few months does not make your wife eligible to enroll in your company’s health insurance until open enrollment (March 2024).
Can You Switch to Spouse’s Health Insurance After Baby is Born?
Yes, you can switch your wife to your company’s health insurance after your baby is born. This is considered a qualifying life event, which allows you to enroll your wife and new baby in your company’s plan outside of open enrollment.
Is it Worth It to Keep COBRA?
Whether or not it’s worth it to keep COBRA depends on several factors, such as:
The cost of COBRA premiums
The cost of out-of-network care for your wife’s pregnancy and delivery
The cost of joining your company’s health insurance plan
Procedure:
1. Inform your HR department of your wife’s last day of employment and that she will be losing health insurance.
2. Ask about the COBRA enrollment process and any associated costs.
3. Have your wife sign up for COBRA if she chooses to keep the current health insurance network.
4. Contact your company’s HR department to enroll your wife and new baby in your company’s health insurance plan after the baby is born.
Conclusion
It’s possible to switch your wife to your company’s health plan after your baby is born, but dropping COBRA before open enrollment may affect her eligibility. Consider the costs associated with COBRA and out-of-network care versus the cost of joining your company’s plan to make an informed decision.
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