So you will be going off your parents insurance? Let me tell you what has happened in our case as of this morning. We found out that the new insurance will cover our son from the beginning of the policy..no waiting period. When you go off you parents insurance, you will need to get a document saying you have been insured. My feeling is that with the new laws, many insurance companies are accepting pre-existing conditions from the onset because it creates more work to make you wait. they will have to insure anyway, so why wait. We are dealing from going from Blue Cross from one emplyer to a new policy of Blue cross at another employer. I think you will be fine. At the very least, you should be entitled to pay the COBRA for 6 months (or whatever) until your new policy kicks in. You can pay COBRA to extend your insurance for up to 18 months.