Your COBRA coverage may be terminated if:
- You become eligible for Medicare
- You reach the maximum coverage limit
- You do not pay your COBRA premiums on time
- You become eligible for another job-based insurance plan ( employer group health plan See Group Health Plan. ) that does not have a pre-existing condition waiting period The waiting period is the time between signing up for a Medigap and the start of coverage. This waiting period is generally imposed if you have a pre-existing condition and have not had prior creditable coverage for a certain amount of time. (if the new plan does have a waiting period, you may continue COBRA coverage during this period)
- The employer providing your job-based coverage stops coverage for all employees
- The employer providing your job-based insurance goes out of business
If you have COBRA and are approaching Medicare eligibility, know that your COBRA coverage usually ends on the date you get Medicare. You should enroll in Medicare Part B immediately to ensure seamless coverage. If your COBRA coverage is ending and you are not Medicare-eligible, you should find alternative insurance to avoid gaps in coverage Gaps in coverage are services or costs that are not covered by Original Medicare, such as vision, dental, and hearing care, as well as deductibles and coinsurance. . Call the federal or state Marketplace or your state Medicaid office to discuss your insurance options.