Intel included 12 months of Intel paid COBRA in severance/CPM packages over the past year which creates some additional considerations when weighing other benefit plan enrollment opportunities during Annual Enrollment.
The Intel paid COBRA does not change any of the government rules regarding what defines a qualified status change (QSC) which allows mid-year entrance to active employer group health plans. When your maximum COBRA coverage period/eligibility ends at 18 months, you may be able to enroll in another employer group health plan because this is generally considered a QSC. While Annual Enrollment is the once-a-year opportunity to make changes to enrollment without a QSC.
When the Intel paid COBRA ends at 12 months you will be responsible for paying the premiums for the remaining 6 months. Some considerations:
If your Intel paid COBRA is ending in early 2024 and you have access to a spouse’s insurance or have started a new job you may want to enroll during that company’s Annual Enrollment and coverage would be effective 1/1/2024. Note some companies offer Annual Enrollment at a different time with a different effective date – so you should check.
If you have a spouse still working at Intel, Annual Enrollment is always offered in October, effective 1/1.
If your Intel paid COBRA ends much later in 2024 you may want to stay enrolled in COBRA and make premium payments to get you to the end of the 18 months of eligibility when you have a QSC to move to another employer group health plan or pay premiums through Dec 2024 if you can enroll in another employer group health plan’s Annual Enrollment effective 1/1/25.
Note that if you enroll in another employer’s group health plan you should notify the Intel Health Benefits Center to drop your COBRA.
In addition please be aware that the Intel paid COBRA only pays for COBRA premiums and is not available to cover any Intel Retiree Medical or Retiree Vision premiums.
Reminder, if you have a SERMA balance, you can use it to pay COBRA premiums after your Intel paid COBRA ends.
Note that when the 12 months of Intel paid COBRA ends you may be eligible to enroll in a special enrollment period in an Affordable Care Act Marketplace plan. Please see Healthcare.gov for more information.
If you have any questions about this or anything else regarding Annual Enrollment your benefits options please call the Intel Health Benefits Center at 1-877-466-9236.
UPDATE: If your COBRA costs change because your former employer stops contributing or you lose a government subsidy (like COBRA premium assistance) and you must pay full cost, can you change from COBRA to a Marketplace plan (outside of Open Enrollment) ? Answer: YES, you can change — you qualify for a Special Enrollment Period. More info at https://www.healthcare.gov/unemployed/cobra-coverage/.