Always confirm costs with your healthcare facility and/or insurance coverage
Losing your job doesn’t just mean losing income—it can also mean losing health insurance. That’s where COBRA insurance comes in. But how much does it really cost, and is it worth keeping?
Let’s break down real COBRA insurance pricing, who qualifies, and how to save money while keeping coverage.
COBRA allows you to keep your employer’s health insurance after job loss—but at full price since your employer stops paying their share.
Coverage Type |
Average Monthly Cost (Without Employer Subsidy) |
|---|---|
Individual Coverage |
$400 – $750 |
Family Coverage |
$1,200 – $2,500 |
🔹 Before losing a job, your employer likely paid 70-80% of the premium. With COBRA, you cover 100% + a 2% admin fee.
🔹 Family coverage is significantly more expensive since it covers dependents.
📊 COBRA Costs by Plan Type
The type of health plan you had before affects your COBRA premium.
Plan Type |
Average Monthly Cost |
|---|---|
HMO (Health Maintenance Organization) |
$450 – $700 |
PPO (Preferred Provider Organization) |
$500 – $900 |
HDHP (High Deductible Health Plan) |
$350 – $600 |
💡 Pro Tip: If your employer offered multiple plan options, you must keep the same plan—you can’t switch plans under COBRA.
🏥 How Long Does COBRA Coverage Last?
COBRA doesn’t last forever—but it gives you time to find a new plan.
Reason for COBRA Coverage |
Coverage Duration |
|---|---|
Job loss or reduced hours |
Up to 18 months |
Divorce or legal separation |
Up to 36 months |
Death of covered employee (for dependents) |
Up to 36 months |
Employee qualifies for Medicare |
Up to 36 months |
💸 How to Save Money on COBRA Insurance
Since COBRA is expensive, here are ways to lower your health insurance costs:
✅ Check if you qualify for ACA marketplace plans – You may be eligible for subsidized health insurance that costs far less than COBRA.
✅ Negotiate with your employer – Some companies offer temporary COBRA assistance for former employees.
✅ Use a spouse’s health plan – If you’re married, see if you can join your spouse’s employer plan.
✅ Consider short-term health insurance – Temporary plans cost less but have limited coverage.
✅ Medicaid might be an option – If your income drops significantly, you might qualify for free or low-cost Medicaid coverage.
🤔 Is COBRA Insurance Worth the Cost?
✅ Best for keeping your current doctors & prescriptions
✅ A good short-term solution while looking for a job
✅ Provides extended coverage in case of medical emergencies
🚨 But if COBRA is too expensive, consider cheaper health insurance options like marketplace plans, Medicaid, or short-term health insurance.
👉 Have questions about COBRA insurance? Drop them in the comments! 💬
Honestly, it’s wild how many people aren’t aware of the COBRA coverage timelines. You really have to keep an eye on those to avoid any gaps. Plus, COBRA can be pricey and may not cover everything you need. It’s smart to check out other insurance options that might work better for you!
Honestly, it’s surprising you’re not digging deeper into alternatives. You could be saving yourself a lot of cash! You really should consider looking into short-term plans or marketplace options. Did you know that many people find better coverage for less than COBRA?
You’re so right! It’s definitely worth exploring other options that fit your needs better. I found that looking into state programs or even short-term plans helped cover gaps when I needed them. It was a real eye-opener for me during my transition, and I wish I had done it sooner!