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COBRA insurance coverage is a common phrase, but most people aren't fully aware of what COBRA is, what it costs, and whether or not it's really beneficial to an unemployed worker. Lucky for you ...
The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) is a law passed by the U.S. Congress on a reconciliation basis and signed by President Ronald Reagan that, among other things, mandates an insurance program which gives some employees the ability to continue health insurance coverage after leaving employment.
The Equal Access to COBRA Act was a bill which would amend the Internal Revenue Code, the Employee Retirement Income Security Act of 1974, and the Public Health Service Act to extend COBRA health insurance coverage to qualified beneficiaries, defined to include domestic partners.
$25.1 billion to provide a 65% subsidy of health care insurance premiums for the unemployed under the COBRA program; $10 billion for health research and construction of National Institutes of Health facilities; $2 billion for Community Health Centers; $1.3 billion for construction of military hospitals
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