I'm voluntarily leaving my job at the end of this month for a new position in a couple of weeks. At my new job, I have health care coverage effective my first day of work. My current coverage terminates on my last day of employment. This leaves a small gap in coverage.
One option is to continue my current health plan using COBRA for that small period of time. My employer's information on COBRA indicates that I will be notified by mail of my eligibility within 14 days of the qualifying event (i.e. job termination), and that I have up to 60 days to sign up for coverage. If I sign up, I will be covered retroactively to the day of the qualifying event.
It seems, then, that it makes sense to slow-roll the process; if my family has any pressing health care needs in that time period, I can then sign up for COBRA, and if not, then I will just pick up the new plan when I start my new job and save the relatively large COBRA premium. It seems that there could be gotchas with this approach, though. Am I missing anything obvious here? One concern that a friend brought up was that any existing health conditions that my family has could be treated as pre-existing conditions in the event that there was a gap in coverage. I've not had a chance to research that to verify.