Upon departing from a company, the former employee typically possesses the entitlement to 18 months of COBRA, maintaining the identical plan they had during employment. There are no new insurance cards issued, and the deductible does not reset. However, the significant difference lies in the fact that the former employee is now solely responsible for the entire payment, without the company's subsidy.
Previously, the employer often covered at least 50% of the employee's insurance
payment, occasionally extending assistance to family payments. We recommend opting for COBRA if you are presently undergoing treatment or have already met your yearly deductible. In situations where only one family member requires ongoing treatment, maintaining COBRA coverage solely for that individual is often the most cost-effective choice. The drawbacks include the usually high cost and the limited duration of one and a half years. For those in good health, we can often create a comparable plan at a more competitive price without an expiration date.