How Much Does COBRA Insurance Cost?
I’m interested in getting COBRA health insurance. How much is COBRA?
On Average, The Monthly COBRA Insurance Premium Cost Is $400 – 700/month Per Individual
Continuing on an employer’s major medical health plan with COBRA is expensive. You are now responsible for the entire insurance premium, whereas your previous employer-subsidized a portion of that as a work benefit. Often times there is a 2% administration fee that may be legally added on.
COBRA Insurance is actually the name of a federal law and not a company. All employers with 20 or more full-time workers are required to offer COBRA, which is the same work health insurance you had.
As COBRA is the same work health insurance you had, the plan continues to be managed by the employer.
How To Calculate Your COBRA Premium
To estimate your monthly COBRA premium, you will add the amount that was deducted from your paycheck for health insurance to the amount that your employer was subsidizing. Typically, the employer portion is not known.
To get an exact quote on continuing your employer plan, you should contact the COBRA plan administrator or refer to the paperwork you received regarding enrollment.
Do You Qualify For COBRA?
If you are unsure if you qualify for COBRA, please try the Quick Check Eligibility Survey.
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COBRAinsurance.com
HealthCare.gov – 2022 Elite Plus Circle Of Champions
We are private insurance company that publishes information on the COBRA law. Additionally, we provide alternative temporary insurance options if continuation is unavailable or too expensive.
What Is COBRA?
COBRA is a federal law that requires employers with 20 or more employees to offer the same group health care coverage after you’ve voluntarily or involuntarily left your job or have had your work hours reduced. Because COBRA is simply the same coverage you had through a previous employer, you would need to contact the COBRA Administrator at your previous employer to begin or cancel coverage. Typically, the COBRA Administrator is in the HR department or the company that sponsored the insurance may use a third party administrator.
Licensed Insurance Agents
Do you have more COBRA questions? Try contacting a healthcare.gov certified insurance specialist. These COBRA customer service agents are licensed in all 50 states. They can offer advice and alternative plans that best suit your needs.
Average Cost Of COBRA Insurance In 2022
Health insurance plans through an employer are ACA Certified. They cover pre-existing conditions and have prescription medication benefits. COBRA is a continuation of that same work health insurance.
According to the Kaiser foundation, the average cost of individual health insurance in the United States is $438/month in 2022. Not all states are close to equal. In Colorado, the monthly average premium is $358, for example. Whereas in West Virginia, individuals may pay over $750 per month for health care coverage.
Average Cost Of COBRA Health Insurance By State
| Location | 2022 |
|---|---|
| United States | $438 |
| Alabama | $597 |
| Alaska | $712 |
| Arizona | $390 |
| Arkansas | $387 |
| California | $417 |
| Colorado | $358 |
| Connecticut | $581 |
| Delaware | $548 |
| District of Columbia | $387 |
| Florida | $456 |
| Georgia | $394 |
| Hawaii | $484 |
| Idaho | $461 |
| Illinois | $18 |
| Indiana | $398 |
| Iowa | $502 |
| Kansas | $450 |
| Kentucky | $387 |
| Louisiana | $541 |
| Maine | $427 |
| Maryland | $328 |
| Massachusetts | $389 |
| Michigan | $340 |
| Minnesota | $327 |
| Mississippi | $448 |
| Missouri | $442 |
| Montana | $483 |
| Nebraska | $595 |
| Nevada | $383 |
| New Hampshire | $309 |
| New Jersey | $424 |
| New Mexico | $389 |
| New York | $592 |
| North Carolina | $504 |
| North Dakota | $497 |
| Ohio | $375 |
| Oklahoma | $498 |
| Oregon | $444 |
| Pennsylvania | $390 |
| Rhode Island | $361 |
| South Carolina | $444 |
| South Dakota | $601 |
| Tennessee | $445 |
| Texas | $424 |
| Utah | $456 |
| Vermont | $749 |
| Virginia | $450 |
| Washington | $396 |
| West Virginia | $752 |
| Wisconsin | $429 |
| Wyoming | $762 |
COBRA Third-Party Administration
Your COBRA plan may be managed by a third-party administrator. Many employers work with the following:
- ADP COBRA
- BASIC COBRA
- BenefitConnect EHR
- Burnham & Flower
- BRI COBRA (Benefits Resource)
- COBRAPoint Benaissance
- Employee Benefits Corp (EBC)
- Lifetime Benefit Solutions
- Navia Benefit Solutions
- Total Administrative Service Corporation (TASC)
- Paychex
- Payflex
- Paycom COBRA
- PlanSource
- WageWorks / Conexis
- WEX (formerly Discovery Benefits)
If you are unsure who your plan administrator is, reach out to the human resources department of the company that provided the health insurance you had.
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*Eligibility for short term medical insurance is based on age and state availability.
