GMAT Club Legend
Joined: 04 Jun 2007
Status:Um... what do you want to know?
Posts: 5456
Given Kudos: 14
Location: SF, CA, USA
Concentration: Technology, Entrepreneurship, Digital Media & Entertainment
Schools:UC Berkeley Haas School of Business MBA 2010
Q51 V41
GPA: 3.9 - undergrad 3.6 - grad-EE
WE 1: Social Gaming
Re: For those matriculating... the Right Way to Leave Your Job?
[#permalink]
18 Jun 2008, 02:40
well, that is the confusing part. I spoke with the COBRA plan operator today, and she said that at any point in those 60 days if I choose to elect, then it is retroactive from the date of termination or notification, whichever is later. If I visited doctors during that period (before I chose to elect), or had an emergency, I just need to save the receipts and send it in for reimbursement.
The article doesn't make as much sense, since it says that you can choose not to elect COBRA when you get the notification, but it doesn't say how many days you get after the notification before it's considered "waived". Do you get a week? Two weeks? or the full 60 days to decide? It makes no sense that you choose to "waive" it immediately after you get notification, since you can't instantly elect the second you get your mail.
And there's a few week period where you are waiting for the notification, what then? Based on the person I spoke with, you are covered and just need to get reimbursed (if you break a leg while waiting for COBRA to arrive). Based on this article, you're in limbo...
Anyway, I will also get the Tonik insurance (it's only $100/month) during the 1 month between end of company coverage and beginning of school coverage. It covers up to $5M, even though the deductible is high, it's more for catastrophic events.