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How much will COBRA coverage cost?

The actual dollar amount will depend on your plan. Employers often subsidize their group plan premium so that employees do not bear the full cost. Once you are no longer an employee, however, you may be responsible for the full cost of your premium plus a small administrative fee. You can be required to pay up to 102 percent of your health insurance premium. If you extend the term of your COBRA coverage because of disability, then during the extension period, you may be required to pay even more, up to 150 percent of your health insurance premium. You may be able to find an alternative to COBRA in the individual health insurance market and save money.

Read more about COBRA health coverage from the United States Department of Labor. Personal insurance is not the same as COBRA, so review your COBRA information carefully. Your time to elect COBRA is limited by law. Failure to elect and exhaust COBRA will eliminate HIPAA eligibility. You may have additional rights under state law.