How Much Does COBRA Insurance Cost?
I’m interested in keeping my work health plan after I resign next month. How much is COBRA?
On Average, The Monthly COBRA Insurance Premium Cost Is $400 – 700/month Per Individual
No Pre-Existing Conditions?
If you do not have pre-existing conditions, visit the health enrollment center for temporary plans that can save you up to 70% off employer COBRA.
Who Provides COBRA Continuation?
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.
Continuing on an employer’s major medical health plan with your federal COBRA rights is expensive. You are now responsible for the entire insurance premium, whereas your previous employer had subsidized a portion of that as a work benefit. Often times there is a 2% administration fee that may be legally added on.
As COBRA is the same work health insurance you had, the plan continues to be managed by the employer.
How Do You 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.
COBRA Alternative:
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$80/month*
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HealthCare.gov – 2022 Elite Plus Circle Of Champions
We are an insurance company that provides information on the COBRA law and 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.
What Are The Benefits?
Because this health insurance is a continuation of the coverage you had through a previous employer, the COBRA benefits will be the same as you had before.
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.
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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 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 Administrators
Your COBRA plan may be managed by a third-party administrator. Many employers work with the following:
- ADP COBRA
- BASIC COBRA
- BAS' COBRA Control Services
- BenefitConnect EHR
- BenefitSolver COBRA
- Burnham & Flower
- BRI COBRA (Benefits Resource)
- bswift COBRA
- COBRAPoint Benaissance
- Employee Benefits Corp (EBC)
- Lifetime Benefit Solutions
- Navia Benefit Solutions
- Optum Financial
- Paychex
- Payflex
- Paycom COBRA
- PlanSource
- Total Administrative Service Corporation (TASC)
- 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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