Like most COBRA participants Jessica Stephens, a 29-year-old Chicagoan, pays the full cost of insurance sponsored by her former employer—$518 a month. Most employers include a 2 percent administrative fee.Hear that, Ted? Obamacare will be "wonderful," according to this young restaurant worker. That's what real Americans think, as opposed to the tiny sliver of America that stands with you.
Stephens, who now makes about $25,000 working as a cook at a restaurant that doesn’t offer insurance, says she took a part-time job to pay her COBRA bill. She’s likely to qualify for exchange tax credits that would allow her to buy a policy starting in January for less than $200 a month.
“That’s wonderful. I would definitely take the exchange” once it becomes available, she said. “I thought I could squeeze by financially doing COBRA, but the last nine months have told me that’s not possible.”
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