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Dollar sign in lifesaver As open enrollment quickly approaches, many are seeking out more information on COBRA continuation plans. (Image: Shutterstock)

With a volatile economy, workforce changes and personnel cutbacks due to COVID-19, this year has been exceptionally challenging for many businesses and their employees. The Bureau of Labor Statistics this year reported a record high unemployment rate of 14.7% — the highest numbers since the Great Recession.

With millions of Americans filing for unemployment, many fear the risk of losing quality health care benefits amidst a pandemic. When it comes to the loss of job-based health insurance, employees have two options: buy a plan through the marketplace or sign up for COBRA coverage.

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