How to Replace My COBRA Plan

COBRA is the "Consolidated Omnibus Budget Reconciliation Act," which Congress passed in 1986. It allows you to elect to retain health insurance coverage that after leaving a job where you were enrolled in a health plan. It is generally expensive, since employers typically cover part of the premiums. While on COBRA, the former employee is responsible for paying the entire premium. However, the coverage the employee had under the insurance plan while working remains the same under COBRA. Typically, COBRA plans can not be changed, except in a few specific situations.

Things You'll Need

• COBRA insurance plan

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Instructions

• 1

  Look at your policy documents. These will tell you when your open enrollment period is. Open enrollment happens once a year, and is typically the only time you can change the type of COBRA insurance plan you have with your former employer or make changes to the benefits you're getting.

• 2

  Call your COBRA representative during open enrollment and ask to change the policy to give you the benefits you need, or to change its nature, such as from an HMO to a PPO.

• 3

  Look at your policy documents to see what the insurance considers "qualifying events." These qualifying events are usually the only other time besides open enrollment that you can change your COBRA policy. Qualifying events take place outside of open enrollment and include changes in your family life, such as the birth of a child, the death of a spouse, a divorce or a child becoming too old to be on your policy.

• 4

  Call your COBRA representative if a qualifying event occurs and let him or her know so the policy can be changed accordingly.