The United States, with an overall unemployment rate of 9.5 percent, is not alone in experiencing a surge in pink slips. In Spain, the rate is 18.1 percent; France is at 8.9 percent; Canada, 8.4 percent, and Germany is at 8.3 percent. But sudden joblessness in America is more traumatic, because health care coverage is often tied to employment. So while hunting for work, Americans must also worry about how to cover themselves and their families. COBRA is a federal program that allows workers to keep their coverage from their previous employer for 18 months, but they must pick up the entire cost. That can mean premiums as high as $1,000 a month for a family. For the time being, federal stimulus money is available to defray 65 percent of COBRA costs for nine months.
