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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.
COBRA stands for Consolidated Omnibus Budget Reconciliation Act, a federal law that was established in 1985 to give individuals temporary health coverage after a qualifying event such as a job loss.
COBRA enabled laid-off workers to hold onto their health insurance—providing that they pay 100% of the premium, which had been wholly or at least in part subsidized by their erstwhile employer.
COBRA is a health insurance option for people who have recently left their jobs. Under COBRA, you’re able to stay with your former employer’s health plan, even if you’re no longer employed. ...
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.
[citation needed] However, employers can require their former workers to pay 102 percent of the full premium for COBRA among many other hurdles and HIPAA doesn't ensure that workers who change jobs will have access to health insurance coverage on the new job or that the coverage offered will be affordable. Thus, neither COBRA nor HIPAA ensures ...
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