Due to leaving my job, my healthcare coverage ends November 1st. This means I'm eligible to sign up for COBRA until December 31st, 2020. I'm planning on signing up for an ACA plan on Healthcare.gov during the open enrollment period and that coverage would start January 1st, 2021. This means COBRA could be activated anytime between November 1st-December 31st, meaning I technically will not be without coverage for that time, if needed, correct?
My goal here is to save cash if we can — my wife and I rarely ever used our insurance. We're healthy people for the most part (fingers crossed). Am I thinking about this correctly? I don't want to be irresponsible, but am trying to hedge our bets on us being healthy. We could afford the COBRA premiums, if needed, though I'd hate to spend that cash. We would technically be able to use COBRA right until our next plan would start January 1st if I'm thinking about this right. TIA for any help!
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