If I Am Getting Medicare, Can I Get COBRA?
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What is COBRA?
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COBRA is a law that was designed to give those who recently lost health insurance due to a life interruption such as a divorce, job loss or death the opportunity to purchase a health insurance policy.
Can I Get COBRA?
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If you are already enrolled in Medicare and you become eligible for COBRA due to a qualifying reasons such as a job loss or death, you have the right to purchase a COBRA policy.
Who Pays First?
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Medicare is the primary insurance. COBRA works as a supplemental insurance, wrapping around Medicare by paying for things like coinsurance, co-payments and deductibles.
Part D
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While you can purchase the COBRA drug coverage, it is not considered a creditable substitute for Medicare Part D prescription drug coverage. If you drop your Part D and take COBRA, you may have to pay a premium penalty if you decide to take Part D in the future.
What If I Already Had COBRA?
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If you had COBRA before you became Medicare-eligible, your COBRA policy may drop you once you become Medicare-eligible. You can, however, keep your dependents and spouse on the plan so long as they are not Medicare-eligible.
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