cobra and you

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Thinking of COBRA? Wondering what comes next?

Losing employer-sponsored health insurance can be confusing. COBRA may allow you to continue your existing employer health plan, but it's important to understand the cost, how long coverage can last, and what options you may have when your circumstances change

 COBRA stands for the Consolidated Omnibus Budget Reconciliation Act, a federal law that lets you temporarily keep your employer-sponsored health insurance after you lose your job or experience another qualifying life event 

COBRA enrollees may be responsible for the full premium, plus any permitted administrative fee

Some employers pay all or part of COBRA premiums for a limited period.
When the employer-paid subsidy ends, your COBRA cost may increase significantly. Depending on the circumstances, this may create an opportunity to enroll in other coverage.
Don't wait until the subsidy ends to explore your options.
 

1. ACA Open Enrollment
November 1 – December 15

Review ACA Marketplace plans during Open Enrollment and determine whether you may qualify for financial assistance

2. New Employer Coverage

Starting a new job with employer-sponsored health insurance may provide an opportunity to transition from COBRA to your new employer's plan

3. Employer-Paid COBRA Subsidy Ends

When an employer-paid COBRA subsidy ends, your cost may increase. Depending on the circumstances, you may have a Special Enrollment Period for Marketplace coverage

4. COBRA Coverage Ends

For many people COBRA coverage lasts up to 18 months. When the applicable COBRA period ends, you may qualify for a Marketplace Special Enrollment Period.

If you're 65 or approaching 65, COBRA and Medicare have different rules. COBRA generally does not extend the Medicare Part B Special Enrollment Period, so it's important to understand your Medicare enrollment timeline.
Learn more from Medicare.gov
Medicare and COBRA
Additional information from UnitedHealthcare
Medicare and COBRA
 

A simple checklist:

☐ COBRA coverage start date
☐ Employer subsidy end date
☐ COBRA coverage end date
☐ New employer coverage date
☐ ACA Open Enrollment dates
☐ Medicare enrollment dates, if applicable

COBRA isn't necessarily the end of the road.
Whether you're considering COBRA, your employer-paid subsidy is ending, you're starting a new job, or you're approaching Medicare eligibility, understanding your options ahead of time can help you avoid surprises.

I'm here to help.