Leaving job, having a baby, then starting new job – help with options

Hi all – thanks in advance for any insight you can provide.

I’m planning on leaving my job at the end of this month (through which we have employer sponsored insurance for my family). My wife is due to give birth in July (yay!). I have another job lined up starting in august. I plan to take the month of July off to welcome the baby and adjust to the new life a bit.

I’m trying to decide whether I will elect COBRA or purchase a marketplace plan while I’m between jobs. We’ll obviously have high healthcare costs in July so I’m leaning towards paying for a marketplace plan with a much lower deductible and lower max OOP. My question is – I can’t elect a marketplace plan retroactively, can I? My benefits will terminate on my last day at work. I’m trying to compare the costs of COBRA (which apparently I won’t get until after I leave the company) with the cost of a marketplace plan. Open to any advice/suggestions.

Cheers!

submitted by /u/fin1139
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