42-year-old John just got laid off and will need health insurance until he gets a new job with benefits. He’s overweight and injured his knee five years ago.

John could continue his former employer’s insurance through COBRA, apply for Short Term Medical or apply for an Individual Medical plan.

John is eligible for up to 18 months of COBRA coverage at $397.80* a month. With the current government subsidy, he’d pay $139.23* a month for nine months, then $397.80* a month for the next nine months of eligibility. After those 18 months, COBRA would no longer be an option.

John can purchase permanent Individual Medical coverage, at slightly higher rates and excluding his previous knee injury, for $334.10** a month. This is a good option since it’s the only way he can get permanent protection that will stay with him regardless of his employment situation.

For $116.37** a month, John could get Short Term Medical insurance to cover his insurance gap, though complications from his previous knee injury would not be covered. If John is confident that he’ll find employment quickly, purchasing Short Term Medical on a month-to-month basis would be smarter than taking the risk of going uninsured.

*COBRA premiums derived from the 2008 Kaiser/HRET Survey of Employer-Sponsored Health Benefits.

**Rates based on 42-year-old male in Reno, NV. Short Term Medical rate with $2,000 out-of-pocket maximum and 80/20 coinsurance. Individual Medical rate with $2,000 deductible and $0 access fee.

For costs and further details of the coverage, including exclusions for pre-existing conditions, any reductions or limitations and the terms under which the policy may be continued in force, contact Assurant Health.