The Cobra benefits subsidy extended to thousands as part of the stimulus package expired June 1rst.2010. This may soon effect you if you have been receiving the subsidy for the last year or more. The end of the Federal subsidy could cause your Cobra insurance costs to increase as much as 65% depending on the amount of subsidy you are receiving. If you are currently getting this subsidy do you have a back up plan?

Recent proposals to extend the Cobra subsidy have stalled in congress due to the already staggering federal deficit. With no budget proposed it is quite possible that this issue will not get resolved since the subsidy was tied to the stimulus act and not a permanent benefit.

The average Cobra family plan is $1069 per month! It’s possible that many of us facing this sharp increase will simply drop the coverage and go without insurance. This will have a more profound effect on those of you who have children. Depending on your situation and income there are other forms of insurance you can purchase that would be much less than Cobra. There are some very good good alternatives available for those who need this type of insurance. Some plans start at less than $100 per month for basic coverage For those of you who are not effected by the increase in Cobra rates you may still be able to save money if you are not covered by your employer or are self employed. Simply click the link below and take a couple minutes to fill out a the short form to see how much you can save.