Health Insurance Alert: Check the Status of your COBRA Subsidy!

If you were terminated or left your employer that provided you with group health insurance, you may now be purchasing this group coverage through COBRA which is available to you for a limited period of time.  In general, your previous employer will require you to pay your entire share of the group cost (plus an administrative fee) to maintain the coverage. It can be quite expensive. Early in 2009, a Federal subsidy was provided to help individuals afford this insurance.

I am writing to encourage everyone on this program to check with their COBRA administrator to determine the status of your subsidy (if applicable). The subsidy was set to expire for many August 31, 2011 meaning those affected could receive as much as a 65 percent increase in continuing this group coverage. 

While it is unlikely the subsidy will be extended, you do have options in the private insurance market. Short Term Medical Insurance is often sold to “gap” your coverage between jobs. You can also evaluate individual medical insurance. Such coverages can be designed to bring your cost down.

See your Health Insurance Professional.