COBRA cost question

makinithappen

If someone pays for COBRA, are they paying for their portions of insurance along with what their previous employer was paying?

I can look up my "total compensation" online at work and it shows the monetary value of my benefits.  If I'm laid off, I'd pay my portion and what they show they contribute to medical premiums, right?

jennifer0124

COBRA can cost up to 102% of the total coverage cost.  So if your employer payed 70% and you paid 30% you could then figure out the projected cost of your COBRA.

litlecowgirl

Yes. Normally you will be paying the entire amount of the employee and employer's contribution. Some HR departments have a breakdown that they usually are willing to share showing the contribution amounts. 

Sometimes an employer will extend your benefits as part of your severance package. Just depends on the employer.  

FrannyS

Most employers do not contribute towards the COBRA premium and the ex-employee pays 100%, even if the employer contributes to active employee's premiums.

Photo5kCupcakes

jennifer0124:

COBRA can cost up to 102% of the total coverage cost.  So if your employer payed 70% and you paid 30% you could then figure out the projected cost of your COBRA.

 This. The extra 2% is an administration fee.