Don’t overspend on health insurance
COBRA vs. Marketplace
COBRA can be expensive. But, you have options. Find healthcare coverage that fits your budget and needs. As you transition out of employer-sponsored health insurance, you have two choices for coverage:
COBRA:
COBRA allows you to keep the health plan you were enrolled in through your employer, but requires you pay the full monthly premium plus 2% of administration fees—meaning your monthly bill is much more expensive.
Marketplace health insurance:
With Marketplace health insurance, you can enroll in quality coverage at a fraction of the price. On average, we’ve enrolled employees in health insurance plans that cost $50 per month.
All Marketplace plans include these essential services, and more:
- Free preventive care
- Prescription drugs
- Laboratory
- Mental health
- Hospitalization
- Pregnancy
- Maternity
- Pediatric
- Birth control
- Breastfeeding
Jackson from Memphis saved $800/month and paid less than $100/month
How you save with Marketplace insurance:
| Household Size | COBRA Cost (representative) |
Marketplace Cost (average) |
Savings |
|---|---|---|---|
| 1 | $463 | $147 | $316 |
| 2 | $971 | $154 | $827 |
| 3 | $1388 | $240 | $1148 |
*Costs shown are illustrative only; please contact benefits department for COBRA costs
