Quick COBRA question... (insurance, buy, companies, financial)

[thepinksquid]

So, I'm changing jobs/companies in January 2011 and thus I'm going to have a gap from when I have my health coverage end at my older job and my coverage begin at my new job (I think I have to wait 60 days, but I'm not 100% sure).

Anyhow, I can't remember... how many days do you have to sign up for COBRA coverage from your health insurance ending? I'm fortunate to be a healthy person, so I'd like to just not sign up for COBRA unless I absolutely need it because of how pricey it is.

If I have over a month or two to sign up, then I'll just wait it out and not sign up unless it financially makes sense to due to me getting sick/needing to see a doctor.

However, if I only have a week or so to sign up for COBRA after my benefits end, then I'll just buy a private family plan for the gap.

Thanks everyone!

[thepinksquid]

Edit: I answered my own question. I have 60 days from losing my benefits to elect COBRA.

[M3 Mitch]

You can buy a high deductible "pure insurance" type policy fairly reasonably, talk to your current HR people, they may have something like this in their COBRA coverage.

[slackjaw]

I think you've got more than 60, you've got 105 days.

I went thru something similar with my last job change, and what I was advised was to wait since you have 60 days to decide then an additional 45 days to pay. So you can wait it out and sign up at 59 days, then wait to pay another 45. If you don't need it blow it off and the policy will cancel.

You might want to google around to make sure this is still a valid method.