plan to retroactively canceling Cobra to November 30.

Hi, we have been paying $1500/month for Cobra since April. Have had to use it very minimally (annual physicals and cortisone shot in wrist and finger). Our new ACA plan is in place to start Jan 1. The termination form mentions that if you are requesting retroactive termination of benefits the form must be postmarked no later than 30 days after the requested termination date. It gives an example if you are requesting to terminate effective 11/30 your form must be postmarked by 12/31. It also states that if it is postmarked more than 30 days after the termination date they will retroactively terminate it to the earliest date allowed by your Cobra plan and insurance carrier. It also lists mid-month termination as a possibility but states that most plans only allow end of month terminations.

We are planning to take the form to the post office on December 31st as close to closing as possible to get it postmarked December 31st. We are going to take the chance that nothing happens to us between 3:00 on December 31st and midnight / New Year’s Eve.

In the, hopefully unlikely, event that something was to happen on December 31st, what are the chances that the ACA policy, which takes effect on January 1st,would cover us if we were to be hospitalized on December 31st. Would it pick up bills from January 1st onward even if we had been admitted on December 31st?

I do plan to call and see if a mid-month termination is possible.

We don’t expect to have any medical bills this month. Obviously if any large expenses occur we would just cancel 12/31.

We haven’t paid December’s premium yet. We are planning to keep dental and vision at least thru our next exam because it’s worth it.

Thoughts?