Can I decline COBRA and apply for a Marketplace plan?

Yes. If you recently lost health coverage through your job, you can generally choose a Marketplace plan instead of COBRA.

Losing job-based coverage usually qualifies you for a Special Enrollment Period (SEP). You can generally enroll in a Marketplace plan up to 60 days before or 60 days after your job-based coverage ends.

What if I haven't elected COBRA?

You don't have to choose COBRA. You can compare Marketplace plans and see whether you qualify for financial assistance based on your household income.

You may qualify for:

• A premium tax credit to lower your monthly premium
• Additional savings on out-of-pocket costs
• Medicaid or other low-cost coverage, depending on your state and circumstances

What if I already have COBRA?

The rules are different if you've already elected COBRA.

Outside of Open Enrollment, voluntarily ending COBRA generally does not create a new Special Enrollment Period. You may be able to enroll in a Marketplace plan when your COBRA coverage ends, or if you experience another qualifying life event.

During Open Enrollment, you can switch from COBRA to a Marketplace plan regardless of why you're ending your COBRA coverage.

Before ending COBRA, make sure you know when your Marketplace coverage will start. You don't want to accidentally create a gap in coverage.