People who have just been laid off but still want to be insured have the option to either get cheap short term health insurance or get COBRA. Short term health insurance and COBRA both have advantages and disadvantages if you decide to get either of the two. A cheap short term health insurance policy can offer coverage from 30 days up to a year depending on the type of plan you get. If you're just in-between jobs, do not have much to spend on insurance, and are generally healthy, then a short term plan might be an ideal choice. This kind of health insurance plan is relatively cheap (premium is usually under $100), and is just enough to cover some medical services until you get an insurance policy through your net job. The disadvantage of having short term health insurance is that it tends to put restrictions on pre-eisting conditions. You also have to renew the plan every time it epires. COBRA (Consolidated Omnibus Budget Reconciliation Act), on the other hand, allows you to continue your insurance policy from your previous employer. If you acquired your health plan from your employer, there's a huge possibility that it was part of a group health policy. The coverage of Small Business is different from short term health insurance and the premium is relatively lower compared to Individuals rates. Under COBRA, you will be able to receive the same benefits from your insurance plan for 18 to 36 months, but the premium you'll have to pay will be much higher. This is because you'll be paying for your part of the premium and for the premium your employer used to pay. - June 26, 2009 @ 10:06 am