How many Americans will benefit remains unclear.
That s because, to stay on their workplace plan, a laid-off worker typically must continue to pay their monthly premiums, as well as their employer s usual contribution and then another 2% administrative fee on top of that.
The typical annual premium for job-based coverage in 2020 was $7,470 for individuals and $21,342 for family coverage, according to the Kaiser Family Foundation.
Now, the government will fully cover these pricey premiums for the next seven months. COBRA subsidies have occurred before, including during the Great Recession and in 2002 for people who lost their jobs to international trade conflict.
By one count, around 130,000 unemployed working-age adults had health insurance coverage through COBRA in 2017. But that was, of course, before the pandemic caused unemployment to soar. And again, many people don t opt for the coverage because of its cost.
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