Can You Afford COBRA Insurance When Leaving Your Job?

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The Consolidated Omnibus Budget Reconciliation Act, or COBRA, lets you continue your employer-given health insurance short-term after you depart.

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But keep in mind that it’ll cost you more than what you were paying as an employee. And you might not be able to afford it.

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Here’s what you need to know about COBRA and if getting it is suitable for you and your family.

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What is COBRA?

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According to the Department of Labor, “Life insurance and disability benefits are not considered “medical care.”

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So COBRA does not cover plans that provide only life insurance or disability benefits” – just health insurance.

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