Cobra Insurance Coverage Cost
- Premiums vary by policy, but a qualified beneficiary will not pay more than 102% of the cost for similarly situated individuals.
- COBRA premiums may be increased if the cost of the plan increases but must be fixed in advance of each 12 month cycle.
- The plan must allow you to pay monthly, weekly, or quarterly.
- The initial premium must be paid within 45 days of election.
- COBRA beneficiaries remain subject to the rules of the plan and therefore must satisfy all costs related to the plan i.e. copayments and deductibles, and are subject to all limits.
- COBRA premiums may be increased if the cost of the plan increases but must be fixed in advance of each 12 month cycle.
- The plan must allow you to pay monthly, weekly, or quarterly.
- The initial premium must be paid within 45 days of election.
- COBRA beneficiaries remain subject to the rules of the plan and therefore must satisfy all costs related to the plan i.e. copayments and deductibles, and are subject to all limits.
