COBRA is a government-sponsored program that allows you to continue your employer-sponsored health insurance after you leave your job. Private health insurance is a health insurance plan that you purchase directly from an insurance company or through the Marketplace.
There are several key differences between COBRA and private health insurance:
COBRA is typically more expensive than private health insurance. This is because you are still paying for the portion of your health insurance that your employer used to cover. With private health insurance, you are only responsible for your own premium.’
COBRA typically has a shorter coverage period than private health insurance. With COBRA, you can only stay on your employer-sponsored health insurance for up to 18 months. After that, you will need to find a new health insurance plan. Private health insurance plans can have much longer coverage periods, often lasting for one year or more.
COBRA typically has more limited coverage than private health insurance. This is because COBRA plans are only required to cover the essential health benefits that are required by the Affordable Care Act. Private health insurance plans, on the other hand, can offer a wide range of coverage options, including some that go beyond the essential health benefits.
If you are eligible for COBRA, you will need to decide whether to enroll in the program or switch to a private health insurance plan. There are pros and cons to both options, so it’s important to compare your choices before making a decision.
There are a few key differences between COBRA and private health insurance. For starters, COBRA is a government-sponsored program, while private health insurance is offered through private companies. COBRA also requires that employers offer continuation coverage to employees, while private health insurance does not have this requirement.
COBRA is also generally more expensive than private health insurance. This is because COBRA provides continued coverage for employees who have lost their jobs, while private health insurance does not typically cover unemployed individuals.
Finally, COBRA coverage is only available for a limited time (18 months), while private health insurance can be purchased for an indefinite period of time.
