I’m planning to quit soon and want to get an idea how much I’d spend on COBRA to retain my healthcare.
I pay ~$250 a month for a family of three. Is there a way to find out what the company’s contributions are?
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You can call them directly and ask. I did and it was very helpful. 📞 (8337769966) I pay $700 for just myself, health dental and vision. It’s going up to $770 in January with the change.
Got laid off once and cobra was cheaper than insurance provided by the "affordable Healthcare act". Let that sink in.
Yes cobra is expensive but not as expensive as a heart attack that you don’t survive. Nothing is worth your mental or physical health from working here’s
As a retiree pre 65 I pay about 955 a month for me my husband and son. I think with COBRA you pay the admin fee too so I guess about 1050 a month for POS B
Yep, check your W-2. But it will probably be in the $2,000+ range (monthly).
@OP+1vkGSmkF, great question.
- Retrieve your 2023 W-2
- Locate Box 12
- Locate Code DD in Box 12
- Amount is the Employer contribution[1]
This amount is NOT considered taxable income…yet! In my very humble opinion, perhaps, sometime in the future, this amount will be considered taxable income, but I digress. If you have about a year, read the ACA (Affordable Care Act).[2] Remember, the amount you see is the company discounted rate for a group membership. Best wishes on your future endeavors.
[1] IRS. Reporting Employer-Provided Health Coverage on Form W-2. IRS.gov. Retrieved November 4, 2024. https://www.irs.gov/newsroom/reporting-employer-provided-health-coverage-on-form-w-2
[2] Affordable Care Act. (2024, September 30). In Wikipedia. https://en.wikipedia.org/wiki/Affordable_Care_Act
Cobra is very expensive and for a family could be a couple of grand these days.