- Health Benefits Advisor
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.