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COBRA
(Consolidated Omnibus Budget Reconciliation Act)
COBRA is a U.S. federal law that allows employees to continue their employer-sponsored health insurance for limited periods (typically 18-36 months) after job loss, reduced hours, or other qualifying events by paying the full premium plus a 2% administrative fee.
While expensive (average monthly cost of $600 for individual coverage), COBRA provides crucial continuity of care during transitions. About 10 million Americans qualify for COBRA annually, though only 15% elect coverage due to cost. Alternatives like ACA marketplace plans or spouse's insurance may be more affordable. COBRA applies to employers with 20+ workers and covers medical, dental, and vision plans.
While expensive (average monthly cost of $600 for individual coverage), COBRA provides crucial continuity of care during transitions. About 10 million Americans qualify for COBRA annually, though only 15% elect coverage due to cost. Alternatives like ACA marketplace plans or spouse's insurance may be more affordable. COBRA applies to employers with 20+ workers and covers medical, dental, and vision plans.