ody Q: I have COBRA insurance. I got a new job but the insurance benefit is high deductible
Can I keep my COBRA and not take the new insurance???
A: Yes, you can stay on COBRA for up to 18 months. After that time though, you cannot stay on COBRA and you’ll need to find a new plan, or face the penalty.
Keep in mind though that on COBRA, you pay the employee contribution, plus the employer contribution, PLUS a 2% Administrative fee, for a total of 102% of the premium. COBRA continuation is very expensive. There are alternatives to COBRA continuation available. Click href=”http://cobrainsurance.com/ here for a quote, or call us at 1-877-279-7959 (8am-5pm CST) and we can help you find an alternative plan.