COBRA allows you to temporarily continue your employer sponsored health coverage (albeit at a relatively high cost) in the event that you are laid-off or otherwise become out of work. However, while continuing health coverage may be right for some people, there are other options that you can and should consider.
COBRA will likely be the best option for you if
1) You or a member of your family is currently pregnant.
or
2) You or a family member have a pre-existing condition that would make it difficult to be accepted in an individual health policy, or would include a rider that would not cover treatment related to the health condition.
However, If you and family members seeking health insurance coverage are relatively healthy there are other options that you should consider that will likely be much more affordable and with a comparable set of benefits.
Alternatives
1.) You can compare individual and family health insurance plans side-by-side here at healthinsurancesort.com and select the plan that best fits your needs.
2.) If you alone have a pre-existing condition, you can stay on COBRA, but enroll your other family members in an indiviudal health plan to save money.
3.) If you believe that you will be unemployed for a short period of time (less than 6 months) you can enroll in a short term health plan. However, this is a more risky proposition if your unemployment lasts longer than expected.
4.) Research whether you can get health coverage through any association groups for which you are a member.
Not all alternatives will be right for every family’s situation, but there are options available to consider.