The Consolidated Omnibus Budget Reconciliation Act (COBRA) covers health insurance plans when qualified workers and their families lose their employers' general health care coverage. Employers must be knowledgeable about everything from who is eligible for coverage and when that coverage kicks in; to how long the coverage must last and how it must be paid; to what notices must be sent and what deadlines are mandated under COBRA.
Employers which sponsor a group health plan must give qualified beneficiaries the opportunity to continue their group health care coverage at their own cost if a loss of coverage results from a qualifying event. Continuation coverage may last for 18, 29, or 36 months.
Key Definitions
Qualified beneficiaries include:
- Covered employees who are terminated for reasons other than gross misconduct or who have their working hours reduced.
- The spouse or dependent child of a covered employee wh...(register to read more)
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