Glossary
Exhausted COBRA Coverage
The end of your
COBRA continuation coverage because the period
of time that this coverage was available to you has lapsed, or for any
reason other than your failure to pay premiums on time or for cause (such as
making a fraudulent claim or an intentional misrepresentation of a material fact
in connection with your plan). Additional reasons for exhaustion of COBRA
coverage are possible besides the time being up. You have exhausted your
COBRA continuation coverage if the coverage ends because your employer failed to pay the
premiums on time or you no longer live or work in an HMO service area and there is no similar COBRA
coverage available to you. You need not accept a conversion policy at
the end of your COBRA coverage in order to exhaust your COBRA coverage.
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