COBRA Subsidy Questions | Smart Unemployment

COBRA Subsidy Questions

Here are some answers:

  • What is the COBRA subsidy? The COBRA subsidy is designed to help you pay for health insurance during unemployment. It pays for 65% of the cost of your COBRA premiums.
  • Who is eligible for the COBRA subsidy? You can get subsidy if you were laid off between September 1, 2008 and May 31, 2010. The subsidy lasts for up to 15 months.
  • What happens after 15 months? You can stay covered under COBRA for another 3 months (more in some states), but you will have to pay 100% of the premiums. For example, if you are currently paying $350 per month under the subsidy, your premiums will increase to $1000 per month.
  • Where can I find less expensive health coverage? While the benefits from COBRA are great, the cost is often too high. Take a look at our article Health Coverage Help During Unemployment for ways to find great health coverage for as low as $39 per month.

4 comments to COBRA Subsidy Questions

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  • Geralynn

    Seems like the choices are either COBRA, which I can’t afford, or nothing. There is not an insurance company in my stse that will cover me due to pre-existing. If by some miracle you do get coverage, there are riders attached that basically bring you back to the COBRA prices again. Great system where your only choice is nothing.

  • michael

    You say it can be longer in some states for Cobra. Which states are those? Do it go by the state where you live, or by the state where the company headquarters is located.

    Where can we find out this information?

    To me Cobra is an Unemployment Benefit…Why was Cobra not included in the extension — from 18 months to say 36? I’d rather have the job, but I definitely need to insure my children.

  • Nancy Lee

    will any of these coverages cover pre-existing conditions, if so, what are the per month premiums?

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