QUESTION

I have COBRA and it’s too expensive. Can I drop it during open enrollment and enroll in a marketplace plan instead?

Individuals with coverage | Coverage for Employees of a Large Employer
ANSWER

During open enrollment, you can sign up for a marketplace plan even if you already have COBRA. You will have to drop your COBRA coverage effective by January 1, the date your new marketplace plan coverage begins. After open enrollment ends, however, if you voluntarily drop your COBRA coverage or stop paying premiums, you will not be eligible for a special enrollment opportunity and will have to wait until the next open enrollment period. Only exhaustion of your COBRA coverage triggers a special enrollment opportunity. (45 C.F.R. § 155.420).

Individuals with no coverage
Individuals with coverage
Coverage for small employers
Post enrollment issues