One of the first things you should do if you lose the health insurance offered by your employer is to get Cobra insurance. Introduced in 1985, the Federal plan enables employees to continue to have their current employer-offered health insurance for a limited time. Given the high costs of health insurance in the US, it’s highly recommended to take advantage of this plan, which is both affordable and easy to use. Employers are required by law to offer the option of continuing Cobra coverage, and employees are typically able to take advantage of it for up to 36 months, depending on their specific circumstances. Cobra basically covers you for whatever you were covered for when you had your employer’s health insurance. Although Cobra can be a big help for anyone losing their job, it also pays to compare the cost of individual health insurance too.
