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| Can I keep my insurance through COBRA and how much will it cost? |
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Q: I work for a company that offers a Health Insurance - AETNA. If I stop work for this company, may I keep the insurance through COBRA? If positive, how that works? How much it will cost?
A: COBRA is a federal law that requires an employer (with more than 20 employees) to offer you continuation of their group health plan. COBRA continuation is the same coverages, same benefits that you had when you were employed. Since all group health plans are different only your employer or their COBRA administrator will know the cost for your COBRA coverage. Your employer or their COBRA plan administrator has up to 45 days from your last day of group benefits to mail you the COBRA packet. Once you elect COBRA, the insurance is retro-active, you will not have a lapse of coverage.
If you are interested in an Alternative to COBRA, Click Here for more information.
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