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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 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 last thing you want when unemployed is to be 100% responsible for health costs in the event of an accident or emergency. That is why you want to avoid a health insurance gap between jobs.
Unemployed workers who have been taking advantage of a federal subsidy to help them pay for continued health care coverage will soon get an unwelcome reminder of how much that insurance really costs.
EBRI interviewed employers for the study, and found that others might follow if a major employer discontinued health benefits. Effective by January 1, 2014, the Patient Protection and Affordable Care Act will impose a $2000 per employee tax penalty on employers with over 50 employees who do not offer health insurance to their full-time workers ...
In addition, the program would also offer a health insurance subsidy for all full-time displaced workers, for up to 6 months, or until they found a new job (whichever is earlier). Workers would be limited to receiving the subsidy no more frequently than once during a certain period, probably 3 or 4 years, in order to prevent job churning.
For millions of unemployed Americans, access to the temporary health insurance program known as COBRA is running out -- despite several extensions by the U.S. government. Finding health insurance ...
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.