COBRA while switching the company
In the process of switching the company and some 20 days of insurance lapse in between. Does COBRA coverage automatically kick in once I quit the company? If so, then what paperwork do I need to show as insurance proof? What are my other options for the coverage? (My spouse is a dependent on my coverage)
COBRA coverage does not kick in automatically. You receive some paperwork that you need to turn in to get coverage. The loophole is that you have 30 days to turn the paperwork in and you are covered retroactively if you do so. So you could sit on the paperwork and not turn it in at all (and not pay) if you don't end up needing it. However, I'm not sure whether this works with the individual mandate.
Individual mandate allows 3 months of no coverage / year before penalties kick in. Penalties are still cheaper than cobra.
Your current coverage likely lasts until the end of the month, which may cover most of the 20 days. You won't have any penalty if there is a lapse since there is a 60 day grace period. You need to actually sign up for cobra. With My former employer, when they told the benefits people I left, the benefits people sent me a cobra email. https://www.dol.gov/sites/default/files/ebsa/about-ebsa/our-activities/resource-center/publications/an-employees-guide-to-health-benefits-under-cobra.pdf