What Is COBRA?
COBRA insurance may be an option for health care coverage if you have been laid off. If your former employer has 20 or more employees, the company is required to offer you the option to pay for an extension of your health insurance coverage for at least 18 months. You then have 60 days from that date to enroll in COBRA.
Now with ACA “Obamacare” might be a better option or even alternative plans. Know your options PRIOR to making your first payment on COBRA. Once that payment is made then “Obamacare” is no longer an option until open enrollment.
P.S. If your company went out of business or went bankrupt, COBRA will not be available.