COBRA

What it is

COBRA lets you keep your exact employer plan — same network, same deductible progress, same everything — for up to 18 months after leaving a job (most employers with 20+ employees). The catch is the price: you pay the full premium, both your old share and the part your employer used to pay, plus a 2% administration fee.

Who it fits

People mid-treatment with providers they cannot risk losing, anyone who has already met a large deductible this year, and households whose income is too high for a meaningful Marketplace subsidy. It can also bridge a short, known gap — for example, six weeks until a new employer's coverage starts — sometimes retroactively, since you have 60 days to elect and coverage applies backward to your loss date.

What it costs, in plain ranges

Whatever your employer was paying plus your share plus 2% — commonly $650–$800 a month for single coverage and $1,800–$2,400 for family coverage, based on average employer plan costs. The election packet quotes your exact number.

The honest catch

You are paying group-plan sticker price with zero subsidy help. Losing job coverage is a qualifying life event with its own 60-day special enrollment period, and if a layoff cut your income, you may qualify for a substantial premium tax credit on the Marketplace — often making an equivalent plan hundreds of dollars cheaper. One warning in reverse: once you elect COBRA, voluntarily dropping it mid-year does not open a new special enrollment period until the COBRA runs out or open enrollment arrives. Decide once, inside the window, with both numbers in front of you.

How it compares

Run the COBRA vs. Marketplace math before your 60 days run out. Continuity is worth real money — but it's worth a number, not any number.