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by Answerbag Staff on February 25th, 2010

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What is COBRA health?

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  • by Rocco Pendola on February 25th, 2010

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    Professionally Researched. (What's this?)

    Cobra health is formally known as COBRA, or the Consolidated Omnibus Budget Reconciliation Act of 1986. COBRA provides continuation of group health insurance benefits to employees who leave their qualifying place of employment.

    Time Frame

    For a period of 18 months, COBRA provides health insurance benefits to terminated employees. Employers must notify a terminated employee of her rights under COBRA within 14 days. The employee has 60 days to respond, according to the U.S. Department of Labor.

    Eligibility

    You qualify for COBRA if you quit your job or are fired, as long as it is not for gross misconduct. Your employer must abide by COBRA if it has 20 or more employees.

    Premiums

    COBRA is expensive. The terminated employee pays the full premium. The American Recovery and Reinvestment Act of 2009 (ARRA) provides premium assistance to workers involuntarily terminated between September 1, 2008 and February 28, 2010, notes the Department of Labor.

    Beneficiaries

    An employee's spouse or dependent children who were covered under the employee's health plan are eligible for COBRA benefits. COBRA is offered to beneficiaries if the covered employee dies.

    Extension

    COBRA benefits can be extended for up to 11 months if the covered employee becomes disabled within the first 60 days of COBRA coverage. In these cases, the health plan can charge 150 percent of the premium cost for the additional time.

    Source:

    U.S. Department of Labor: FAQs for Employees About COBRA

    U.S. Department of Labor: Fact Sheet: COBRA Premium Reduction

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