COBRA lets you keep your job-based health plan for usually 18 months after leaving, at up to 102% of the full premium. You have at least 60 days to elect and 45 days after that to pay.
Source: U.S. Department of Labor, “An Employee’s Guide to Health Benefits Under COBRA.” Rules for your plan are in your COBRA election notice.
Run the numbers: COBRA cost calculator · COBRA vs marketplace.
General education, not insurance, tax or legal advice. Figures from IRS and HHS publications; confirm with your plan documents.
Usually 18 months after job loss or reduced hours. Dependents can get up to 36 months after events like divorce or the employee’s death or Medicare entitlement. A disability determination can extend 18 to 29 months.
Up to 102% of the full plan cost (your share plus what the employer paid), or up to 150% during a disability extension. Check the total premium on your pay stub or W-2 box 12 code DD.
At least 60 days from the later of the coverage loss or the date the election notice is provided. Coverage is retroactive if you elect and pay in time.
45 days after you elect. Later monthly payments have a 30-day grace period.
Federal COBRA applies to private employers with 20 or more employees and to state and local governments. Many states have “mini-COBRA” laws for smaller employers.
Losing job coverage opens a 60-day special enrollment period. If you voluntarily drop COBRA mid-year outside open enrollment, that alone does not open a special enrollment period.
Yes. It is the same plan, so what you have already paid toward the deductible and out-of-pocket max still counts. A new marketplace plan starts from zero.
Often when you have already met much of your deductible, are mid-treatment with specific doctors, or will start a new job soon. Otherwise a marketplace plan with a tax credit is usually cheaper.