I finish my fellowship on June 30th, start my attending position in mid/late July, and I'm eligible for health insurance through my new employer starting August 1st. My family (wife + 2 kids) are covered under my health insurance now, which will expire on June 30th. The health insurance through my new employer will be a better option for us than that available through my wife's employer, so we will be going with that once eligible on August 1st.
So, what to do for July? I was planning to switch to insurance through my wife's employer for July, then switch again once I'm eligible through mine on August 1st. However, I just learned after listening to the most recent WCI podcast that COBRA can be enacted retroactively. None of us are expecting any healthcare needs in July. Thus, I suppose another option would be to do nothing for July with the contingency plan of electing COBRA retroactively if any unforeseen health issues/costs arise. From what I've read, you need to be without insurance for > 3 months to incur penalties under the ACA, so if no healthcare needs arise in July, then I think we should be ok from that standpoint.
Has anyone been in a similar situation? Any thoughts on what you did or what I should do? Any input would be greatly appreciated.
So, what to do for July? I was planning to switch to insurance through my wife's employer for July, then switch again once I'm eligible through mine on August 1st. However, I just learned after listening to the most recent WCI podcast that COBRA can be enacted retroactively. None of us are expecting any healthcare needs in July. Thus, I suppose another option would be to do nothing for July with the contingency plan of electing COBRA retroactively if any unforeseen health issues/costs arise. From what I've read, you need to be without insurance for > 3 months to incur penalties under the ACA, so if no healthcare needs arise in July, then I think we should be ok from that standpoint.
Has anyone been in a similar situation? Any thoughts on what you did or what I should do? Any input would be greatly appreciated.
Comment