Is Obamacare cheaper than cobra?
Table of Contents
Is Obamacare cheaper than cobra?
The cost of COBRA insurance depends on the health insurance plan you had under your employer. COBRA costs an average of $599 per month. An Obamacare plan of similar quality costs $462 per month—but 94% of people on HealthSherpa qualify for government subsidies, bringing the average cost down to $48 per month.
Is Cobra retroactive to date of termination?
Your employer has 44 days from your last day of work or last day of insurance coverage (whichever is later) to send out COBRA information. COBRA is always retroactive to the day after your previous coverage ends, and you’ll need to pay your premiums for that period too.
What happens to your benefits when you quit?
Whatever the reason for leaving your employer, under most group plans, you’re insured only as long as you remain part of the group being covered. So generally speaking, if your job ends, your coverage ends, too. However, if you’re leaving because you’ve been laid off, your benefits may continue for a few weeks.
