Prior company's insurance benefits are better and cheaper - Newer comp

[Guest Karlo]

I'm evaluating an offer of employment. The new employer insurance premiums are MUCH higher (smaller company) - Can I remain with my prior company's (very large employer) plan under COBRA? Are there any time limits or time restrictions? Can I remain as long as I want, as long as I keep paying? Thank you.

[Guest [Pat M]]

Karlo, are you comparing apples to apples in terms of your required contribution under both plans? You can, of course, elect COBRA once you actually have a qualifying event (termination of employment), however, be sure you are comparing your current employee contribution to the required contribution of the prospective plan. You may be looking at the plan's total cost. Remember, under COBRA, you would pay the full cost of coverage (plus a possible percent or two they can charge you) NOT just the current employee portion.