Continuation Coverage Form With Decimals

Category:
State:
Multi-State
Control #:
US-322EM
Format:
Word; 
Rich Text
Instant download

Description

The Continuation Coverage Form with decimals is used to elect COBRA continuation coverage, allowing individuals and their families to maintain health insurance after leaving employment. To complete this form, users must provide personal information, including names, dates of birth, relationships to the employee, and Social Security numbers or other identifiers. Importantly, users have 60 days from the notice date to decide on their election. The completed form must be returned by mail or another specified method by a given due date to avoid losing coverage rights. The form also allows individuals to change their minds about election before the due date if they initially reject coverage. After the due date, coverage begins once the election form is submitted correctly. This is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who support clients in navigating health benefits and can ensure compliance with federal law. It emphasizes the importance of meeting deadlines and understanding employee rights during transitions.
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How to fill out COBRA Continuation Coverage Election Form?

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FAQ

In that case, COBRA lasts for eighteen months. If the qualifying event is the death of the covered employee, divorce or legal separation of the covered employee from the covered employee's spouse, or the covered employee becoming entitled to Medicare, COBRA for the spouse or dependent child lasts for 36 months.

If you have COBRA and you're eligible for Medicare, COBRA may only pay a small portion of your medical costs, and you may have to pay most of the costs yourself. Contact your COBRA plan and ask what percent they pay. To avoid unexpected medical bills, you may need to sign up for Medicare right away.

If your employer contributes $400 per month, the total cost of your job-based plan is $650 per month. To calculate your total monthly COBRA premium, add a 2% service charge to the $650 for a grand total of $663 per month. Here's a sample calculation: Your contribution: $125 per paycheck X 2 = $250 per month.

In addition, a COBRA carrier may be able to bill you for any benefits paid by mistake when Medicare should have paid first. If you're already on COBRA when you become eligible for Medicare, you will lose your COBRA benefits and none of this applies to you.

COBRA is Retroactive. When you receive your COBRA letter, you have 60 days to submit the paperwork with your insurance company. However, no matter when you submit the paperwork during this time, you are covered retroactively from day 1. The catch: you will also be responsible for all premiums from day 1.

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Continuation Coverage Form With Decimals