First, I apologize for the length of the post but here is what you need to know if you have sleep apnea, which is a pre-existing condition.
Be careful when making a choice not to take the cobra. In many states if you are eligible for cobra they will issue an individual policy until your eligibility runs out. Most companies state you must not be eligible for or covered under…. Cobra is one of the choices.
You are experiencing the pre-existing condition limitation clauses. You are not covered by insurance for your pre-existing conditions unless you can prove you have been covered prior to this and that you have not been without coverage for a period of 31 days. If you obtain a proof of coverage certificate from your last insurance company and give it to the new one they will (usually, depending on the company and the state) cover you for the pre-existing problem.
As the laws exist today, you can never be without insurance again or they can exclude coverage for your sleep apnea for the next 12 months.
Pre-existing condition limitation: For the first 12 months following the enrollment date of your coverage, they will not pay for: Conditions for which medical advice, diagnosis, care or treatment was recommended or received during the six months before enrollment. As well as, conditions for which during the last six months there are symptoms, which would cause a prudent person to seek medical advice, care or treatment.
My advice is to take the cobra coverage until it runs out then, sign up for an individual plan. Make sure that you get a proof of prior coverage certificate from the insurance company you have now and give it to the new insurance company, when it is time to get new insurance and you shouldn't have a problem.
I am playing this game myself right now my cobra runs out the end of November (mine is 539 a month so yours is a bargain). Just yesterday, I started shopping for insurance. I am hoping I don’t have to close my business and get a job just so I can afford insurance but that is a real possibility.
Good luck and email me if you need any help. I am an expert at this game. I have a heart condition, asthma and now seep apnea!