Lost your job coverage? COBRA vs. an individual plan
- COBRA keeps your same plan but you pay the full premium.
- Losing coverage usually opens a Special Enrollment Period.
- Compare total cost, including doctors and deductibles met so far.
Leaving a job, or having hours cut, often means losing health insurance. You usually have two main options.
COBRA
COBRA lets you keep your employer's plan for a limited time. You keep the same doctors and any progress toward your deductible. The catch is cost: you typically pay the full premium, including the part your employer used to cover, plus a small fee.
An individual or family plan
Losing job-based coverage generally opens a Special Enrollment Period, so you can enroll in an individual plan without waiting for Open Enrollment. Depending on your household income, you may qualify for savings that make it cost less than COBRA.
How to decide
- Mid-treatment or met your deductible? COBRA may be worth it to avoid starting over.
- Income dropping? An individual plan with savings may cost far less.
- Doctors matter most? Check whether they are in individual plan networks.
Watch the deadlines
You generally have 60 days to elect COBRA and 60 days from losing coverage to enroll in an individual plan. Do not let both windows close while deciding.
See your Arizona options
Answer a few quick questions. A licensed agent will walk you through plans that fit.
This article is general information, not legal, tax or medical advice. Plan availability, benefits, eligibility and prices vary by location and situation. A licensed agent can review your specific options.