The Consolidated Omnibus Budget Reconciliation Act (COBRA) gives workers, and their families who lose their health benefits, the right to choose to continue group health benefits provided by their company plan. Qualification for COBRA results from certain events such as voluntary or involuntary job loss, reduction in the hours worked, transition between jobs, death, divorce, and other life events. Some participants may be required to pay the entire premium for coverage up to 102 percent of the cost to the plan. However, for healthy individuals it is often cheaper to opt out of COBRA and find an individual policy that meets your needs.
We can help you decide if COBRA is the best option for you, or whether and individual plan would be a better value.