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Free COBRA health insurance subsidy is ending in one month, at the end of September. You can still get free health insurance, and the host of the Wise Money Show, Mike Bernardo, will tell you how. If you've been on COBRA this year due to involuntary termination or retirement, you've been receiving fully subsidized COBRA since April 1. This means you've been eligible for free health insurance, paid for by the government, or taxpayers.