Your employer terminates your coverage at termination or the loss of coverage date. It is not reinstated until you return any required forms and in most cases, the COBRA premium due to-date. Once reinstated, the insurance carrier will reimburse you for covered expenses less any co-pay or deductible. If you belong to an HMO, it is important to return forms as soon as possible if you anticipate medical expenses during the election period. Once we receive your forms, it can take insurance carriers 3 to 7 business days to reinstate you.