Evaluación Inclusiva

Due to Active Employment?

No. You may elect the same level of coverage or any lower level of coverage (e.g., you may elect Employee only, Employee and Spouse, Employee and Child(ren), or Family cover- age). Unless otherwise elected, all qualified beneficiaries who were covered under the Plan will be covered together. However, each qualified beneficiary may alternatively elect

Important Things to Know

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separate COBRA coverage to cover that qualified beneficiary only, with a separate deductible, out-of-pocket maximum and a separate premium for coverage.

What Happens if I Waive COBRA and Later Change My Mind?

Qualified beneficiaries who reject COBRA continuation coverage before the Election Form due date may revoke their waiver by furnishing a completed COBRA Election Form before the due date. However, qualified beneficiaries who change their mind and revoke their waiver after first rejecting COBRA continuation coverage will begin COBRA continuation coverage on the date the qualified beneficiary furnishes the com- pleted COBRA Election Form and will not receive coverage retroactive to the date of the qualifying event.

Are There Circumstances when COBRA Coverage Might Terminate Early?

Yes. Continuation coverage will be terminated before the end of the maximum period if: • Any required premium is not paid in full

on time;

• A qualified beneficiary becomes covered, after electing continuation coverage, un- der another group health plan that does not impose any pre-existing condition exclusion for a pre-existing condition of the qualified beneficiary;

• A qualified beneficiary becomes entitled to Medicare benefits (under Part A, Part B, or both) after electing continuation coverage; or

• The University ceases to provide any group health plan for its employees. • Continuation coverage may also be

terminated for any reason the Plan would terminate coverage of a participant or covered dependent not receiving contin- uation coverage (such as fraud). You must notify the Plan Administrator in writing within 30 days if, after electing COBRA, a qualified beneficiary becomes en- titled to Medicare (Part A, Part B, or both) or becomes covered under other group health plan coverage. The Plan reserves the right to retroactively cancel COBRA coverage and

to seek reimbursement of all benefits paid after the event that allowed early termination of COBRA coverage if the qualified benefi- ciary does not notify the Plan Administrator immediately of such coverage.

In the event of early termination, the Plan Administrator will provide the qualified beneficiaries with written notice as required by COBRA. The notice will be furnished as soon as practicable following the Plan Ad- ministrator’s determination that continuation coverage will terminate, will be written in an understandable manner, and will contain the following information:

• The reason that continuation coverage has terminated earlier than the end of the maximum period of continuation cover- age applicable to such qualifying event; • The date of termination of continuation

coverage; and

• Any rights the qualified beneficiary may have under the Plan or under applicable law to elect an alternative group or individ- ual coverage, such as a conversion right.

Are There Other Coverage Options Available?

Yes. Instead of enrolling in COBRA contin- uation coverage, there may be other more affordable coverage options for you and your family through the Federal Marketplace or the NY Marketplace, Medicaid, or other group health plan coverage options (such as a spouse’s plan) through what is called a “special enrollment period.” Some of these options may cost less than COBRA continu- ation coverage.

You should compare your other coverage options with COBRA continuation coverage and choose the coverage that is best for you. For example, if you move to other coverage you may pay more out of pocket than you would under COBRA because the new cov- erage may impose a new deductible.

When you lose job-based health cover- age, it’s important that you choose carefully between COBRA continuation coverage and other coverage options, because once you’ve made your choice, it can be difficult or impossible to switch to another coverage option.

What Is the Health Insurance Marketplace?

The Health Insurance Marketplace offers “one- stop shopping” to find and compare private health insurance options. In the Marketplace, you could be eligible for a new kind of tax credit that lowers your monthly premiums and cost-sharing reductions (amounts that lower your out-of-pocket costs for deduct- ibles, coinsurance, and copayments) right away, and you can see what your premium, deductibles, and out-of-pocket costs will be before you make a decision to enroll. Through the Marketplace you’ll also learn if you qualify for free or low-cost coverage from Medicaid or the Children’s Health Insurance Program (CHIP). You can access the Federal Market- place for your state at www.HealthCare.gov. Coverage through the Federal Market- place may cost less than COBRA continua- tion coverage. Being offered COBRA contin- uation coverage won’t limit your eligibility for coverage or for a tax credit through the Federal Marketplace.

Certain states have their own market- places, while other states use the Federal Marketplace. If you live in New York State, you may purchase insurance through the NY Marketplace. New York residents should contact the NY Marketplace at https:// nystateofhealth.ny.gov/ or 1-855-355-5777 for more information. If you live in another state, you can access the Marketplace for your state through the Federal Marketplace website, www.HealthCare.gov.

When Can I Enroll in Marketplace Coverage?

You always have 60 days from the time you lose your job-based coverage to enroll in Marketplace coverage. That is because losing your job-based health coverage is a “spe- cial enrollment” event. After 60 days your

special enrollment period will end, and you may not be able to enroll, so you should take action right away. In addition, during

what is called an “open enrollment” period, anyone can enroll in Marketplace coverage. To find out more about enrolling in the Marketplace, such as when the next open enrollment period will be and what you need to know about qualifying events and special enrollment periods, visit www.HealthCare. gov (or https://nystateofhealth.ny.gov/ for the New York Marketplace).

If I Sign Up for COBRA Continuation