COBRA
The Consolidated Omnibus Budget Reconciliation Act of 2015 (COBRA) is a law that provides employees and their families with continuing group health benefits when certain qualifying events occur that would normally lead to a termination of health coverage, for instance, voluntary or involuntary job loss, a reduction in working hours, divorce, or death.
COBRA covers health plans offered by companies with more than 20 employees. Employers that do not offer group health benefits are not required to offer COBRA coverage.
Related Terms:
Small Business Health Options Program (SHOP)
Special Enrollment Period (SEP)
