30 Second Insurance Tips©

Tip 105- Cobra Unaffordable? This Could Work.

According to a recent survey conducted by the Kaiser Family Foundation, employer sponsored
group health insurance premiums now average $468 a month for single coverage. (A summary
of that survey can be found here.)
Employees tend to be insulated from that cost because they pay only a fraction of the total;
usually 30% or less.
Thus it shouldn’t come as a surprise when many individuals simply decline to elect COBRA
continuation. Understandable but unfortunate.
As an option, how about suggesting they buy their own policy; one that is customized to be
more affordable. For example, a high deductible health plan for a 31 year old might be just $85
a month.
Busy HR managers have enough to do without selling insurance. That’s why they have agents!