Tuesday, January 13, 2009

Affording COBRA Premium on Unemployment Benefits

If you lose your job, you can extend your health insurance coverage under COBRA. You will, however, have to pay for the extended coverage. Families USA compares the average cost of extended coverage with the average unemployment benefit. As expected and indicated in the accompanying table from the study, "Squeezed! Caught between Unemployment Benefts And Health Care Costs," the comparative cost is high. Families need to prepare for unexpected contingencies like this with a three to six month emergency fund.

No comments:

Post a Comment