Should you take COBRA?
Whether or not you choose to take COBRA will depend on your options. First, you should expect COBRA to be significantly more expensive than your employer-covered insurance. If you're no longer working, you might have trouble paying for it.
Some easy alternatives worth considering include using a spouse's insurance or a parent's if you're young enough. On the other hand, if you're old enough to collect Medicare, you may want to choose that instead of COBRA.
Another option is to get health insurance from the federal or state-run marketplaces, which you might find is more affordable than the COBRA plan.
The good news about COBRA is that you can start taking it and then drop it if you find something that works better for you. That could even include a new job that now includes health insurance.
COBRA was intended to fill the gap in coverage that would normally occur when you're no longer at a job. It's not the best solution for full-time, long-term health insurance.
Related investing topics