After losing my job, do I continue coverage with COBRA or go with an individual plan?
I lost my job on June 9th. The COBRA premium subsidy program extended by the gov’t would have qualified me for a $209/month premium if I had been laid off by May 31st.
However, since I was 9 days too late to lose my job, I am now liable for $600/month to continue coverage. My coverage was good, but I don’t think it was THAT good…
So I started checking out individual plans on eHealthInsurance.com and found a decent plan for about $100/month with no deductible and 50% coinsurance. I have an ongoing medical condition that requires frequent check-ups (every 1–4 months depending on the doctor).
I am actively looking for employment and ideally will have a job with insurance once again soon enough. With that in mind, I think I should choose a low deductible plan.
There are just so many variables in this situation though. Is there an easier way to decide which option would be the cheapest but best fit considering my previous health insurance usage?
This question is in the General Section. Responses must be helpful and on-topic.