What is COBRA Continuation of Health Insurance Coverage?
COBRA is a law that entitles employers and their dependents the right to continue group health benefits for 18-36 months, depending on your circumstances. Triggering events include job loss (except for terminations from gross misconduct), reduction in hours, death of the employee, legal separation or divorce, birth, and adoption. If you qualify for COBRA , the premiums can be unsustainable, charging 100% of the full premium plus a 2% admin fee.
Most people fall under either COBRA or mini COBRA regulations. Health plan administrators must send an initial notice to you if you join the health plan, and a final notice to participants who lose coverage.
The Consolidated Omnibus Budget Reconciliation Act (COBRA) gives workers and their families who lose their health benefits the right to choose to continue group health benefits provided by their group health plan for limited periods of time. COBRA medical coverage is available when health benefits are lost under certain circumstances, such as voluntary or involuntary job loss, reduction in the number of hours worked, transition between jobs, death, divorce, and other life events. Individuals who qualify for COBRA continuation of health insurance may be required to pay the entire premium for coverage up to 102 percent of the cost of the plan. COBRA medical insurance also has restrictions in terms of how long of a time period the individual or family are eligible for coverage. COBRA generally requires that group health plans sponsored by employers with 20 or more employees in the prior year offer employees and their families the opportunity for a temporary extension of health coverage (c
COBRA Health Insurance Coverage Plans & Benefits Continuation of Health Coverage COBRA The Consolidated Omnibus Budget Reconciliation Act (COBRA) gives workers and their families who lose their health benefits the right to choose to continue group health benefits provided by their group health plan for limited periods of time. COBRA medical coverage is available when health benefits are lost under certain circumstances, such as voluntary or involuntary job loss, reduction in the number of hours worked, transition between jobs, death, divorce, and other life events. Individuals who qualify for COBRA continuation of health insurance may be required to pay the entire premium for coverage up to 102 percent of the cost of the plan. COBRA medical insurance also has restrictions in terms of how long of a time period the individual or family are eligible for coverage. COBRA generally requires that group health plans sponsored by employers with 20 or more employees in the prior year offer emplo
