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What happens to your medical insurance if you lose your job?

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2012-08-21 07:19:39
2012-08-21 07:19:39

If you are covered by your employer and you leave your job or lose your job, your employer must offer you COBRA, which is a continuation of your medical benefits.

Normally, you can stay on a COBRA plan for up to 36 months. Once you are no longer employed by your company, the medical benefits contributions will no longer apply, meaning you will have to pay the full cost of medical insurance yourself to the medical plan.

The cost per month can vary, but will be clearly listed on your COBRA letter which outlines this service. You will receive your COBRA letter shortly after your last day of employment.

If your employer has fewer then 20 employees, the US Labor Department will not enforce COBRA. If your employer does nothing, you are out of luck.

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