Question 1

How much does COBRA cost?

Accepted Answer

Usually the full premium your employer was paying plus your share, plus up to a 2% fee. Ask HR for the exact amount.

Question 2

Can I get Marketplace help if I get severance?

Accepted Answer

Help is based on expected yearly income, which includes severance and unemployment. Estimate your total for the year.

Question 3

Is COBRA or the Marketplace cheaper?

Accepted Answer

It depends on your income and plan. COBRA is usually full price; Marketplace plans often cost less with income-based help, especially after a pay drop.

Question 4

How long do I have to sign up for COBRA?

Accepted Answer

Usually 60 days after you get the COBRA notice or lose coverage, whichever is later. Coverage can go back to when it ended if you elect and pay on time.

Question 5

Can I switch from COBRA to a Marketplace plan?

Accepted Answer

If you drop COBRA voluntarily, usually only during open enrollment. If COBRA runs out, you get a new special enrollment period.

Question 6

How long does COBRA last?

Accepted Answer

Usually up to 18 months after a job loss; longer in some situations.

Question 7

Can I get Medicaid after losing my job?

Accepted Answer

If your income is low enough in your state, yes. You can apply anytime.

Question 8

What counts as income for Marketplace help?

Accepted Answer

Your expected household income for the year, including wages earned before the layoff, severance and unemployment benefits.

Common questions: COBRA or Marketplace