Granted, this is more like “News You Likely Already Knew,” but new research from The Commonwealth Fund reveals that COBRA is so expensive that just 9% of eligible workers opts for COBRA coverage after losing insurance due to a layoff or other termination.
Unemployed workers who also lose their health insurance would need substantial financial assistance, covering 75% to 85% of their health insurance premiums, for their premium contributions to remain at the levels they paid while they were working, according to the report. That figure comes on the heels of a proposal from President Obama that would subsidize COBRA premiums up to 60% for 18 months, and House passage of a similar proposal.
