When Is My Payment Due?
And the answer is…it depends. “When is my payment due” is one of the top questions COBRA members ask our support team. Three of the most common payment due dates are:
- Initial Payments – The first initial COBRA payment is due 45 days from the date of the member’s election.
- Subsequent Payments – Aside from the initial payment, all subsequent payments are due on the 1st of each month, and there is a 30 day grace period to postmark the payment.
- Partial Payments – If a participant pays most (but not all) of their bill, sometimes this scenario may qualify as an “insignificant payment”. If so, the participant is allowed an additional 30 days to pay their balance due.
As with almost all COBRA compliance questions, “it depends” is a very confusing but accurate answer. Keeping track of the who, what, when, and where parts of COBRA compliance can be complicated. But don’t worry; we can help keep track of it all. Give myCobraPlan a call at (800) 865-4485.