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| Can I use COBRA to keep my current insurance rates for my kids? |
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Q: I am changing jobs. My new insurance premiums for my kids will be much higher at my new job. Can I use COBRA to keep my current insurance rates for my kids? If so for how long?
A: As long as you do not enroll your kids in your new employer’s group plan, they would be eligible for COBRA from your previous employer (assuming they have more than 20 employees). The maximum time you can keep COBRA is 18 months. When you sign up for COBRA the employer no longer contributes to paying for the cost of insurance. So, your COBRA rates are what you currently pay, plus what the employer currently pays for your insurance and a 2% administrative fee is added each month.
Q: I am changing jobs. My new insurance premiums for my kids will be much higher at my new job. Can I use COBRA to keep my current insurance rates for my kids? If so for how long?
A: As long as you do not enroll your kids in your new employer’s group plan, they would be eligible for COBRA from your previous employer (assuming they have more than 20 employees). The maximum time you can keep COBRA is 18 months. When you sign up for COBRA the employer no longer contributes to paying for the cost of insurance. So, your COBRA rates are what you currently pay, plus what the employer currently pays for your insurance and a 2% administrative fee is added each month. If you are interested in an Alternative to COBRA, Click Here for more information.
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