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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 the Consolidated Omnibus Budget Reconciliation Act and became law in 1986.It is also known as continuation coverage. COBRA can help a person keep the health insurance that they ...
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.
Under COBRA, you’re able to stay with your former employer’s health plan, even if you’re no longer employed. You can keep COBRA coverage for 18 or 36 months, depending on your situation.
Employers may require COBRA-qualified individuals to pay the full cost of coverage, and coverage cannot be extended indefinitely. COBRA only applies to firms with 20 or more employees, although some states also have "mini-COBRA" laws that apply to small employers.
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The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) provides some employees and beneficiaries with the right to continue their coverage under an employer-sponsored group health benefit plan for a limited time after the occurrence of certain events that would otherwise cause termination of such coverage, such as the loss of ...
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 ...
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