I would like to avoid paying for Cobra insurance for a month between jobs if I do not use the insurance. It would not be a lapse in coverage for preexisting condition purposes.
Basically for the month of August, I do not have health coverage from my prior employer or my new employer. New coverage starts Sept 1st. Cobra coverage will handle the interim on my old employers policy. Premium payment is required during the first 45 days after an election is made or the coverage is cancelled retroactively. If someone in my family breaks a few bones or has some other expensive medical problem, I will most likely pay the premiums, but if the insurance is unused, I want to avoid shelling out the $1400 bucks. This is in the United states.
Is there any negative legal or financial consequence of not paying? Is this fraudulent? Perhaps it is slightly unethical, but I can live with that.