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Q:  My job ended February 5. I was mailed a letter from the employer (dated February 19 not mailed out UNTIL March 5 and NOT received until March 9) that I have until March 19 (I am only given 10 days to decide and that is not counting mailing in my decision) to decide to take the COBRA coverage that was offered - at $364.06 a month, and it WAS NOT my coverage that I had as an employee (more like emergency coverage). Not exactly affordable to an unemployed graduate student denied unemployment. I have heard from my family that this "coverage" offered is supposed to be exactly what I had as an employee, and on top of that, the first 9 months were only supposed to be at a cost of 35%. Any help on if this is correct, where I can find the necessary information so that I can pursue this and get the coverage I need and am due?

A:  COBRA is the name of a federal law. COBRA contains provisions giving certain former employees, retirees, spouses and dependent children the right to temporarily continue their health coverage at group rates. Your employer is required by law to offer you the continuation of their group health policy for up to 18 months if there are more than 20 employees. You will need to request a COBRA packet from your employer, sometimes the HR dept or benefits manager. They will send you an election form in the mail (they have 45 days to send it) for you to complete. Once you complete this form and return it with in 60 days, your insurance will be retro-active to your last day of employment.  You will not have any lapse or gap in coverage. 

We are a company that offers Cobra Alternatives. They are short term major medical plans that cover new illnesses or injuries. They do not cover any pre-existing conditions.  The plans online are alternatives to Cobra. The main difference between this plan and Cobra is that it doesn't cover pre-existing conditions or preventative care.  Short Term Health typically costs less than Cobra. They'll cover new illnesses or injuries.