How Much Does a COBRA Cost?
How much your COBRA health plan will cost depends on how much it cost your employer and you prior to the qualifying event plus an administrative fee of 2% (specified in the COBRA bill). In the package your employer should have sent you (contact your employer’s benefits or human resources department if you haven’t received a package in the mail) it should detail how much each of your coverages should cost (medical, dental, vision, FSA/HSA, etc).
This price will be much higher than what you paid as an employee. For example, my medical plan cost me a mere $20 per month and that premium jumped to nearly $390 per month in the COBRA information sent to me in the mail. Your employer is no longer footing a large portion of the bill, unfortunately that burden now falls on you.
deborah hoare said,
October 1, 2008 @ 2:30 pm
Question:
my husband changed jobs and Amerihealth’s last day of coverage was 9/30/08.
what is the monthly cost for a family for one month until coverage starts with Amerihealth on the new job ..
Please advise.
Thank You
Deborah Hoare
Lori Hockert said,
December 30, 2009 @ 9:22 am
I left my employer on 10/09/09 and went to a new job for some reason the old comapy never sent me the Cobra information when I asked before I left the company they said they would mail it to me and I have not received it but now the insurance company has advised me it was cancelled on 12/9/09. This is a huge problem since now I have been terminated at the new job and need to continue coverage.