Can I Switch from COBRA to ObamaCare?
I am on COBRA and can not afford it, can I cancel it and get on Obamacare even if open enrollment is over?
Answer
During open enrollment you can switch from COBRA to ObamaCare's Marketplace at anytime, outside of open enrollment you must wait until COBRA ends. Being on COBRA for even one month disqualifies you from a special enrollment period. This is because you technically "have coverage". However, when you first lose your employer plan you CAN choose between either ObamaCare or COBRA, even if it's outside of open enrollment.
Learn more about special enrollment.
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Since no one is informed of the options in a timely manner this totally sucks. The option is not mentioned in the COBRA notification. ACA is supposed to help folks from going in the hole financially or going without care.
Yeah, that seems a little silly doesn’t it. To be clear you have the right to transition to the ACA. You can enroll before you get dropped so coverage starts in or around the date.
If COBRA is too expensive, do I have to elect Obamacare or can I search for other Health coverage?
Open enrollment
I have COBRA right now
My income in 2017 will be less than 200% poverty.
The ACA enrollment process appears to view COBRA as employer coverage.
Therefore the ACA results appear to disqualify me for tax credits / premium subsidies. This is all very confusing. What am I doing wrong? I don’t want to misrepresent anything on the application.
Do small business under 20 employees have to offer cobra
“COBRA establishes specific criteria for plans, qualified beneficiaries, and qualifying events: Plan Coverage – Group health plans for employers with 20 or more employees on more than 50 percent of its typical business days in the previous calendar year are subject to COBRA.” – DOL.gov
I.e. no. https://www.dol.gov/agencies/ebsa/about-ebsa/our-activities/resource-center/faqs/cobra-continuation-health-coverage-compliance
So, are you still eligible for APTC if you have cobra, but enroll in an ACA plan during Open Enrollment when you are NOT at the end of your cobra period?
No, from what I understand you would have to stop COBRA to be eligible for the APTC. COBRA in this case would be an extension of “employer coverage”.
What is APTC? Can I stop COBRA during ACA open enrollment and enroll in an ACA plan instead with eligibility for subsidies based on our estimated 2017 income?
Advanced Premium Tax Credits (APTC) are tax credits that can be taken in advance for marketplace health insurance and then are reconciled on your year end federal income taxes. You can stop COBRA insurance anytime and use the Marketplace to be eligible for advanced tax credits to help cover premiums at anytime during open enrollment. You are also not required to take COBRA because losing job-based insurance qualifies you for Special Enrollment Periods giving you a 60 day period to sign-up with Marketplace insurance after that loss.