COBRA

COBRA is not a form of insurance. Instead it is a law that allows an employee leaving his/her employer to keep their current health insurance for up to 18 months. 

Some important notes about COBRA:

• The premium you pay will almost certainly go up. Employers often pay a portion of the monthly premium for health insurance. With COBRA the employer is not responsible for paying their share, it is the former employees responsibility to pay all the monthly premium. 

• You must elect to take COBRA. Your former employer does not have to remind you of it or offer it. They do have to assist you if you request it.

• COBRA can be extremely beneficial in dealing with a pre-existing condition or if you have trouble getting insurance.

• COBRA is available to all former employees unless you were fired for gross misconduct.

For more information about your COBRA options ask your employer.