No, currently Medicare does not consider COBRA as creditable coverage. This may change in the future. Creditable coverage is health insurance that is at least as good as Medicare’s Part A and Part B coverage. If you have creditable coverage, you do not have to pay a late enrollment penalty if you enroll in Medicare later.
COBRA coverage is not considered creditable coverage because it does not cover all the same benefits as Medicare. For example, COBRA does not cover prescription drugs, and it may have higher copayments and coinsurance than Medicare.
If you have COBRA coverage, you should enroll in Medicare as soon as you are eligible. If you do not enroll in Medicare when you are first eligible, you may have to pay a late enrollment penalty if you enroll later.
For more information on how to avoid a penalty contact Ashford Insurance at 817-952-3153.
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