The Sting of the COBRA

Its official name is the Consolidated Omnibus Budget Reconciliation Act, acronymed as COBRA. Enacted April 07, 1986 (thank you, Wikipedia), the theory behind its existence is sound: It enables people who are separated from their employment positions--and thereby separated from the associated benefits--to continue healthcare coverage.

The problem is, all the expense shifts to the newly separated.

We just got our determination in the mail yesterday, which is our healthcare provider's calculation of what it will cost us to continue the medical, vision, and dental bennies I once had.

Are you sitting down?

For our family of five, it is a whopping $2,018.20 per month.

Good God.

Where is someone on unemployment benefits supposed to muster $2018.20 a month?

Thankfully, we will be "purchasing" insurance coverage from my wife's employer for the time being. And then deciding when I return to full-time employment whether to stick with that plan or move to my own, depending on what represents the better value for our money.

But holy hannah!

No wonder there are so many Americans going without health insurance these days.