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- Americans are losing their jobs — and as a result, their health insurance — at an unprecedented clip due to the coronavirus pandemic.
- One option is signing up for COBRA, which allows you to keep your previous health coverage for up to 18 months by paying both the employee's and employer's portions, but retaining group rates.
- COBRA can be expensive, but if it's your best option for immediate health insurance, it could be worth the cost.
- Private employers with at least 20 workers and an active health plan must offer COBRA.
- Read more personal finance coverage.
As Americans shelter-in-place to protect themselves from a growing health crisis, millions of workers are losing their jobs, and along with them, their health insurance.
Over half of Americans get health coverage through an employer, according to the Commonwealth Fund. If you get laid off, quit your job, or otherwise lose your coverage during this crisis, you have a few options for obtaining health insurance, including COBRA.
See the rest of the story at Business Insider
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See Also:
- Where's my stimulus check? Here's when your payment should arrive
- 11 insurance companies that may help you with payments during the COVID-19 outbreak
- Some high earners may delay filing taxes to get a larger stimulus payment — but it won't work for everyone
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