Getting a Better Understanding of COBRA

The Consolidated Omnibus Budget Reconciliation Act (COBRA) gives workers and their families who lose their health benefits the right to choose to continue group health benefits provided by their group health plan for limited periods of time under certain circumstances such as voluntary or involuntary job loss.

In short, even after termination of employment, COBRA allows employees to keep their employer-sponsored health insurance. COBRA even covers spouses and dependents originally covered by the employer’s plan. Keeping the same plan means not having to switch doctors or find new healthcare providers to stay in network, but it can be very expensive for COBRA recipients to pay 100% of the monthly premiums.

In the event someone becomes eligible for COBRA, they have at least 60 days to make a final decision. If they choose COBRA coverage, it will be retroactive to make sure there are no gaps in coverage. Depending on the employer’s plan, out-of-pocket costs will vary.  Additionally, a COBRA administrative fee of 2% needs to be considered. The average cost of single coverage in 2022 was over $7,00; family plans averaging more than $21,000 per year.

There is a plan for almost every individual need under the ACA

Anyone losing their job and facing a decision about health insurance coverage can choose from a host of ACA plans via the Inshura health insurance marketplace. There is no end to the options and price points when you consider the federal subsidies, the premiums, and the metal tiers of plans.  Inshura’s marketplace, integrated with, includes public and private plans from the most popular national insurance companies offering ACA plans, making it easier than ever to find the right coverage.

There are certain guarantees enrollees can expect from the ACA plans because these are federally regulated,. Benefits include ambulatory care, emergency room visits, hospitalizations, substance abuse treatment, prescriptions, rehab services, labs, preventive care, chronic disease management, pediatric care, vision care, and oral health coverage.

ACA Plans and COBRA Coverage Complement Each Other

Many Americans worry about job security, so it’s nice to know there are plenty of options if they lose a job.  Both COBRA and ACA plans provide continuing coverage in the event of job termination, whether or not the termination is voluntary.  ACA plans in the Inshura ACA insurance portal offer a wide range of healthcare-related services, preferred care providers, and affordability needs for every individual. You don’t have to give up quality health insurance coverage if you lose your job. With COBRA or ACA plans, you’re sure to find the right plan for you, regardless of what you had with your employer.

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