COBRA: Who Qualifies and What You Get
Learn how to maintain your health insurance coverage after losing your job through the COBRA program.
COBRA is a program that allows you to keep the same group health insurance coverage you had while you were employed, even after you lose your job.
Who it's for
This scheme is for employees who have lost their jobs.
What you get
You can get a temporary continuation of the group health coverage that you previously had through your employer.
What it costs you
You are responsible for paying the full premium cost. This means you must pay both your original portion and the portion that your employer used to cover.
The catch to know
This can be very expensive compared to the rates your employer used to subsidize. Since you are paying the entire cost yourself, your monthly premiums will likely increase significantly.
How to apply
- Review the specific details of your coverage through your former employer.
- Look for an election notice sent by your employer regarding your rights.
- Follow the instructions provided in that notice to enroll in continued coverage.
- Visit the official portal for more information: https://www.dol.gov/general/topic/health-plans/cobra