If you’ve never lost your job, you may not have ever heard of COBRA. COBRA is a health insurance plan that allows an employee who leaves a company for any reason to continue to be covered under the company’s health plan for a certain period of time. The name results from the fact that the program was created under the Consolidated Omnibus Reconciliation, and the system exists so that employees in between jobs can keep their coverage until they can hop into something new. This sounds just ducky, and it is definitely a nice option to have, people will find themselves paying full-price on all premiums for their coverage. They may still have the health insurance they’ve grown so accustomed to, but they’ll be paying out the wazoo for it.

Find cheaper COBRA alternatives. Request a quote today >>

The new stimulus package includes subsidies to help pay for COBRA insurance coverage to those who have lost their jobs in our current economic hard times. This could be a welcome safety blanket for those who need a little extra monetary help while looking for a new job.

(more…)