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Mine was $1k (laid off in Nov 2024) which I paid for 5 months before someone told me to check if I qualified for Medicaid; I checked and I did qualify. Medicaid coverage in NYS is great and free! I don’t understand why companies don’t tell you to check when they lay you off, since they don’t make money on COBRA, but then again, most agencies are assholes so.
Medicaid is great if you don’t have serious medical issues. Many specialists don’t take it.
Chief
Healthcare monthly payments through COBRA are more expensive than getting it yourself, BUT the coverage tends to be better.
We have 2 kids so our monthly Cobra is $2350. I could get it $400/ month cheaper by going directly through BCBS NY, but due to one of our children’s medical needs, the coverage we have through Cobra is better and $200 cheaper/ month than the same coverage (which my son would need) if we went directly through BCBS.
If you’re single and healthy though, definitely ditch Cobra and go directly through a health insurance company.
Keep in mind the first month after a layoff you don’t necessarily have to immediately enroll, you can just wing it and if shit happens you can retroactively activate COBRA. That is of course if you have all your medications… After a month you have to have insurance in place, but I would recommend looking at healthcare.gov marketplace vs paying for COBRA, for us it was about $1,500 a month, 2 parents, 2 children.
Whatever you paid when you were employed for starters. Then add to that how much your company kicked in, which could have been up to half, so double what you paid out of your paycheck. Basically it’s all on you now. Plus an extra 2% on top. You will realize quickly how expensive good coverage is in this country when you no longer have your employer taking on 1/2 the premium.
Yeah it depends on where you were for sure.
It was $500/mo for me 5-years ago.
Single. No kids.
Rising Star
But so many people here on Fishbowl have assured me that highlighting the brokenness of our for-profit healthcare catastrophe makes me a filthy socialist, surely the free market can solve this??
Was on COBRA, family of 3 and cost us $2400 per month.
Rising Star
Yeah. Unemployment didn’t cover that, let alone rent or food.
Also, keep in mind that when you go on Cobra, you need to go on the plan that you had as an employee. If you think you might be let go or leave on your own and need to go on Cobra, you might want to consider switching plans during open enrollment. I switched during open enrollment and was laid off shortly thereafter. The plan I switched to was much less expensive and the coverage was fine. My premium for individual coverage is around $800/month.
I need to leave this country. It is a scam
For me and my wife, it was around $1,900 per month. In Massachusetts. PPO though. I’d guess HMO or high deductible plans would be somewhat less.
Mine was just shy of $900/month in 2021. I had a BCBS Illinois PPO+ plan with an annual $1800 out-of-pocket max per year. While employed, it was @ $190/month.
2 children 2 adults, $2100 a month /:
Over 2k for me and two children. Crazy.
$1200/month for two adults
My W2 last year had the total of my health
Insurance listed in box 12h under the code DD. I’m sure the premium went up this year.
Single, about 770 a month. I have out of network doctors and a few prescriptions so I was worried about Medicaid not covering some of that stuff. But maybe I should look into it.
Doctors who are out of network with your insurance company aren’t going to take Medicaid.
You usually just pay the full price of the plan your work offers. you can probably call your health insurance and ask them the cost or look up your plan on the healthcare marketplace
Chief
Follow up question. Is cobra less expensive than another short term insurance options?
For me it was about the same, provided I chose the same level of care (PPO, deductible, etc).
I was laid off in June from a holding company agency. My COBRA would be $980ish a month for medical, dental, and vision (the medical taking up the bulk). Single, no kids. I’m still deciding if its worth it :/
I agree with ML1. Stick with the medical only.
Cobra is the same amount you and the employer were paying combined. Once i got off Cobra it was about $600/mo cheaper
Me and my toddler $754