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- Jun 9, 2011
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Like most COBRA participants Jessica Stephens, a 29-year-old Chicagoan, pays the full cost of insurance sponsored by her former employer—$518 a month. Most employers include a 2 percent administrative fee.Stephens, who now makes about $25,000 working as a cook at a restaurant that doesn’t offer insurance, says she took a part-time job to pay her COBRA bill. She’s likely to qualify for exchange tax credits that would allow her to buy a policy starting in January for less than $200 a month.
“That’s wonderful. I would definitely take the exchange” once it becomes available, she said. “I thought I could squeeze by financially doing COBRA, but the last nine months have told me that’s not possible.”
Diving Mullah
“That’s wonderful. I would definitely take the exchange” once it becomes available, she said. “I thought I could squeeze by financially doing COBRA, but the last nine months have told me that’s not possible.”
Diving Mullah