February 3, 2006, Newsletter Issue #18: Losing Your Workplace Insurance Coverage

Tip of the Week

If you’ve found yourself out of a job (whether it was your choice or not), you may be able to continue your health insurance coverage for a limited time, thanks to a federal law known as COBRA. Here’s what you need to know:

If your old employer had twenty or more employees, COBRA lets you continue the coverage offered through your former group plan for up to 18 months.

COBRA covers your dependents for the length of the continuation.

You must inform your former employer that you wish to continue your health insurance within 60 days of leaving.

You will be responsible for paying the whole premium.

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