COBRA Payment Grace Period vs 1 Week Insurance Gap
Hello. My partner and I are looking for any advice or a sense check on managing a week of gap in health insurance….
Currently 1 month into COBRA coverage, paid up through Nov 30th
Next payment due Dec 1
New insurance with new employer begins Dec 7
COBRA provider lists a 30 day payment grace period in the welcome letter
Because COBRA payments can’t be prorated for just part of a month, we are seriously considering “missing” the Dec 1 payment and only paying if an emergency comes up between Dec 1 – Dec 6th.
Partner has (newly diagnosed) health issues, which have sent them to the ER twice in the past 6 months. Seems to be under control now, but I wouldn’t be surprised if they needed emergency care in the near future either.
The insurance coverage is GREAT, we’d be in serious trouble right now after just one ER visit if we didn’t have it.
We’d saved up for a couple months of COBRA coverage, so it wouldn’t endanger our housing or put us in debt to pay for December – but at the same time, it’s over half of a rent payment for us and it’s hard to let that money go for a week’s worth of peace-of-mind…
Would you pay on time? Or wait to see what happens with the grace period, if needed?
