If you pay your medical coverage every Thursday how long will it last if you were to leave your job?

Answer 1

Depends on the company's policies and any agreements you make on parting from your job. The policy NAY terminate the instant you leave the job (unusual but possible). More likely, it would typically continue until the next Thursday, although most insurance companies allow a month's grace period, before cancelling the policy. If you wish to continue your insurance coverage at your own expense after you leave your job, look up COBRA as it relates to insurance. Check your employer's insurance policy before acting on this! Check with your HR department, but usually health insurance is prepaid, so it would last to the Thursday following your leaving the job. You may be eligible for COBRA, but you will pay the entire cost of the insurance--in my case (single for an HMO) it was upwards of $550. If you use the insurance after that Thursday, then you'll need to pay up for the COBRA amount.