DEFINITION: COBRA is the Consolidated Omnibus Budget Reconciliation Act of 1985, federal legislation that allows you – if you work for an insured employer group of 20 or more employees – to continue to purchase health insurance for up to 18 months if you lose your job, or your employer-sponsored coverage is otherwise terminated.
The insured is responsible for the full cost of the premiums (plus a 2 percent administrative fee) if COBRA is elected.
Related terms: employer-sponsored health insurance
February 10, 2017 – Unfortunately, the average American doesn't seem to have a good sense of what repeal could cost them. Many aren't even certain that they've… Read more
January 5, 2017 – While policy wonks analyze the political challenges of repealing Obamacare, millions of Americans who rely on it to help pay for lifesaving… Read more
December 12, 2016 – The self-employed have historically faced a set of unique challenges in finding and keeping health insurance. But the Affordable Care Act… Read more
August 18, 2016 – The combination of COBRA and the ACA present a solid array of options for people who are losing their employer-sponsored health insurance.… Read more
June 21, 2016 – Q. Are qualifying events and special enrollment periods the same as they were in prior years?
A. For the most part, yes. Outside of… Read more