I don't know how common this knowledge is, but I figure that I'd put this out there for anyone who isn't aware of the following. I believe that the federal government requires companies, businesses, and the like to provide insurance identical to what the employee had while still employed for a short duration. But, the former employee must pay the monthly premium on his or her own. This requirement of the employer to offer such an insurance extension is called Cobra.
This can be beneficial in situations like mine. My contract, at the university where I am currently working, ends September 1st. If I don't get rehired for the academic year, paying the premium is well worth the price, especially during that first month I am not employed. I am giving birth mid-September. Given the cost of giving birth, in terms of hospital fees and doctors' fees, paying the insurance premium and 20% of the cost of delivery will definitely be much cheaper than paying for the entire delivery out of pocket.
But, in general, people complain about Cobra being too costly. So, every individual must determine whether Cobra is the best choice.
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