If you're covered by a health insurance plan through your job, quitting your job generally means losing your health insurance coverage. However, you might be able to continue your coverage for a period of time after you leave your job.
If you have a health insurance plan through your job and you quit, you might be able to continue your coverage for a period of time through a law known as "COBRA." COBRA stands for the Consolidated Omnibus Budget Reconciliation Act.
COBRA applies to employers with 20 or more employees. If your employer falls into this category and you had health insurance coverage through your job before you quit, you can continue your coverage for a limited time (18 months or, in some cases, 36 months) under COBRA.
You'll have to pay the full premium for your health insurance coverage under COBRA, plus a 2% administrative fee. But COBRA can be a good option if you need to maintain your health insurance coverage after quitting your job.
For more information about COBRA, contact the U.S. Department of Labor at 1-866-444-3272 or visit their website at www.dol.gov.