Boss. Business owner. Sole proprietor. Freelancer. Independent contractor. Hustler. No matter what you call yourself, being your own boss is hard-core. But hard-core folks still need health insurance—and when you work for yourself, you’re on your own.

When seeking out health insurance coverage past when it’s partially covered by your previous employer, how do you choose between picking COBRA or private health insurance? Both have pros and cons. The right choice, however, depends on your unique circumstances. Let’s discuss the pros and cons of COBRA vs. private health insurance.