Consolidated Omnibus Budget Reconciliation ACT (COBRA)

[Steve S]

I'm about to lose my full time status at my college because of budget cuts and my health insurance will go too. I was told that I could qualify for COBRA but know almost nothing about it.

My wife works full time and I can go under her health insurance but would have to find different physicians. I've been very happy with my plan so am sad that it's going away.

Can someone give me an idea how COBRA works? Should I look into it or just go under my wife's plan?

[Grooveman1961]

In a nutshell, COBRA gives you the right to continue your health plan, but its at your expense. You end up paying your whole monthly premium, your part and your employers contribution.

[UncleFluffy]

... plus a couple of % on the top for admin fees, usually

You're almost certainly better off financially going under your wife's plan.

[Steve S]

Thank you!

[Pilgrim]

You need to talk with the HR people at your college...NOT here. It's their job to work with you and help you understand this stuff, There should also be many authoritative websites online.