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| What is the cost of my COBRA? |
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Q: As of August 1, 2007 I will be in-between jobs and I will need medical coverage for the months of August and September. My last day with my current job is July 27th. I have HMO insurance with my current company. They told me that I will be sent a packet about COBRA Insurance within 2 weeks of my termination. How can I find out how much this will cost me?
A: COBRA is offered to you by your employer. It is a continuation of the same group health plan that you were on. Since, you no longer work for that employer but still have their coverage; you will be responsible for 100% of the monthly premiums. Plus, the employer can add a 2% administrative fee to that cost. You would have to contact the employer to find out what your premium would be. They will also send you information in the mail for you to make your premium payment. COBRA will cover any medical conditions you may have.
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