COBRA continuation coverage allows you to keep your employer's health insurance after leaving a job. What is the biggest downside?

When you are employed, your employer typically pays a substantial portion of your health insurance premium — often 70 to 80% of the total cost. Under COBRA, you are responsible for 100% of the premium plus up to a 2% administrative fee. This means a plan that cost you $200 per month as an employee might cost $700 or more per month under COBRA. COBRA coverage can last up to 18 months in most cases and up to 36 months under certain qualifying events such as divorce or a dependent aging off a parent's plan.