COBRA: AKA - Consolidated Omnibus Budget Reconciliation Act
In layman’s terms, COBRA is simply the transfer of your previous group plan to you. Your group plan was probably being paid for, to some extent, the employer. But, now that you are no longer work for them, you are paying for that group plan. Group plans are very expensive – much more so than individual plans. Most folks don’t realize how expensive their group plan was until they lose their job and have to pay for it themselves (COBRA).
If you are in a Short Term situation, you might be best served by using a simple & affordable Short Term Medical Policy.