How long does your insurance coverage last after you are fired?

Answer 1

Cobra lasts for 18 months. Depending on where you live and your circumstance you may qualify for some extended period beyond that. In most cases, once Cobra ends you can qualify for a HIPAA guaranteed plan but they are not cheap.

Answer 2

Depends on how long you can afford to pay for it.

You have the right under a federal law called COBRA to continue your health coverage for up to 18 months after termination as long as you pay all the premiums (which can be quite costly....like typically $1500 per month for a family).

You also can retroactively authorize your COBRA benefits up to 45 days after termination as long as you pay the back premiums in full.

Answer 3

Assuming you are talking about health insurance, generally those polices run from month to month and use the first of the month as a marker.

If you are terminated mid month, generally the health insurance is good until the first of the month because you've paid the premiums for the month you are in.

But after that, your insurance ends.

However, a federal law called COBRA requires you to be allowed the opportunity to continue your coverage for up to 18 months so long as you agree to pay the full premium (which can be a lot because your employer usually heavily subsidizes the cost....family coverage for example can be as much as $1200-$1500 a month).

COBRA also allows you to continue in your plan retroactively after the cutoff date for up to 45 days after the first of the month after you were terminated, so long as you pay all the premiums in arrears.

That same federal law requires your employer soon after termination to notify you of your rights under COBRA to continue your coverage.