If you already have The Consolidated Omnibus Budget Reconciliation Act (COBRA) when you enroll in MEDICARE, your COBRA coverage usually ends on the date you enroll in Medicare. If you have COBRA and become Medicare-eligible, you should enroll in Part B immediately. You are not entitled to a Special Enrollment Period (SEP) when COBRA ends. Your spouse and dependents may keep COBRA for up to 36 months, regardless of whether you enroll in Medicare during that time.
If you are eligible for Medicare because you have End Stage Renal Disease (ESRD), there is a period of time when your employer group health plan will pay first and Medicare will pay second. This is called the 30-month coordination period. If you have COBRA during this time, COBRA will be your primary insurance during your 30-month coordination period. If your COBRA coverage ends before the 30 months have passed, Medicare becomes primary. If you still have COBRA when the 30-month coordination period ends, Medicare will pay first and your COBRA coverage may end (check with your State Department of Insurance for details on your state laws regarding COBRA coverage). For Florida, here is the link for all your health insurance needs: http://www.floridahealthinsurance.com/cobra.htm
Medicare has two parts. Part A is hospital insurance and Part B is medical insurance. Most people pay monthly for Part B.
The premium for 2012 Part A
• $248.00 per month if you or a spouse has at least 30 quarters of Medicare covered employment.
• $451.00 per month if you have less than 30 quarters of Medicare covered employment.
Part B (Medical Insurance) premium for 2012
• $99.90 per month.
There is a program that may help you with your Medicare Part A premiums, if you decide to purchase Part A, after your extended coverage terminates. To be eligible for this help, you must be:
• Under age 65.
• Continue to have a disabling impairment.
• Sign up for Premium Hospital Insurance (Part A).
• Have limited income.
• Have resources worth less than $4,000 for an individual and $6,000 for a couple, not counting the home where you live, usually one car, and certain insurance.
• Not already be eligible for Medicare
You may also be able to keep COBRA HEALTH INSURANCE once you get Medicare for services that Medicare does not cover. For example, if you have COBRA dental insurance, the insurance company that provides your COBRA coverage may allow you to drop your medical coverage but keep paying a premium for the dental coverage for as long as you are entitled to COBRA.
