COBRA Insurance Continuation: Who Qualifies and What You Get
Learn how to maintain your health insurance after losing coverage through your employer and the costs you should expect.
COBRA allows you to keep the same health insurance coverage you had through your job for a limited time after you lose that coverage.
Who it's for
This is for workers who have recently lost their employer-sponsored health insurance.
What you get
You receive a temporary extension of your previous health coverage, allowing you to stay on your existing plan rather than finding a new one immediately.
What it costs you
This can be very expensive. Because your employer is no longer paying their portion of the cost, you must pay the full premium yourself, plus additional administrative fees.
The catch to know
This coverage is only available for a maximum of 18 months. Because of the high cost, it is often cheaper to switch to a plan found on the Marketplace.
How to apply
- Review the notice sent to you by your former employer regarding your options.
- Contact your former employer's human resources or benefits department.
- Follow the specific instructions provided to elect and pay for continued coverage.