COBRA
A federal option to keep your employer health plan after leaving a job, at full price for up to 18 months.
COBRA lets you continue your former employer's health plan after leaving, typically for up to 18 months. The coverage is identical to what you had, but you pay the full premium — your share plus the part the employer used to cover — plus a small administrative fee, with no income-based subsidy. That often makes it expensive, $700 to $1,200 a month or more.
COBRA's best use is a short bridge, especially if you're mid-treatment and want to keep your exact doctors and plan for continuity of care. For a longer gap before Medicare, a subsidized ACA marketplace plan is usually cheaper, since marketplace subsidies can dramatically cut the cost while COBRA offers none.
This definition is general information to help you understand a term, not financial, tax, or legal advice. Figures that change year to year (limits, thresholds, rates) should be confirmed against current official sources. For guidance on your situation, a licensed fee-only fiduciary is the right next step.