1. Information about COBRA.

• Choice

  When your employment is terminated, your employee benefits go away (specifics can be obtained from your previous employer). However, you may elect to continue your current medical benefits coverage at your own expense through COBRA.

• Cost.

  If your employer has been paying all or part of your health plan cost, you will be paying the employer’s portion as well as your own with COBRA. Refer to the literature your employer gave to you upon termination.

• Timing.

  Once coverage on your company’s plan ends, which is usually the end of the month in which you leave, you have 60 days to decide whether to choose COBRA coverage.

• Coverage Length.

  You can usually keep your COBRA coverage for 18 months before needing to find different options. The specific timeframe for you should be specified in the material from your former employer.

• Compare.

  Insurance rates vary so you’ll want to explore your options. After 60 days, your COBRA option expires and you will be uninsured unless you have made other plans. It’s smart to compare COBRA with other options before the 60 days are up.