What happens if I change residency to another state after I quit my job?
COBRA is a federal law and applies regardless of residency. Before you quit your job, you should check with your current insurance carrier to see if that policy is able to be extended to a different state. If it is not, your previous employer must find you similar coverage in your state.
How Much Does All This Cost?
An individual’s COBRA plan costs around $500 per person. When you keep employer-sponsored health insurance on COBRA, you pay the full premium amount. Depending on the employer’s plan, the cost may be better than what you find on federal or private health insurance marketplaces.
Cheaper Than COBRA
If you are fairly healthy and still want to remain insured, alternatives to COBRA insurance may be available based on where you live. Short-term health insurance is a popular option and available in most states. This can protect you from high medical costs of new injuries or new illnesses that unexpectedly occur while allowing you to use any licensed doctor. Coverage is available up to $1 million per person. For more information and pricing, you can call us at 1-877-262-7241 or complete a free quote online.