0
COBRA is a law that requires an employer to allow a (former) employee to continue his/her group health insurance after the cessation of employment. The election to enroll in COBRA coverage must be made within a fixed period of time. Upon the cessation of your employment, the employer is required to furnish you with instructions as to how to enroll and information as to the time frame for doing so.
During your employment and participation in the group health insurance plan, the employer paid a part of the premium, and you probably had to pay a portion as well. Under COBRA coverage, you are responsible for paying the entire premium, which will likely be substantially more than your contribution toward the premium during your period of employment.
If you do not enroll in COBRA during the requisite period of time, health insurance coverage will lapse. If that occurs, you will need to seek individual (private) coverage which will be medically underwritten. Whether or not you can obtain it, and the premium for it, will be determined by the insurance company's underwriting guidelines and then-current rates.
Wiki User
∙ 9y ago
Yes, COBRA (Consolidated Omnibus Budget Reconciliation Act) is a law that provides certain employees and their beneficiaries the right to continue their group health coverage at their own expense after experiencing a qualifying event, such as termination, reduction of work hours, or a life event like divorce or death of the employee.
Add your answer:
Earn +20 pts
What is Cobra Health Insurance?
COBRA health insurance provides former employees of the company with health coverage. More information on Cobra Health Insurance can be found at the cobra government webpage.
What does people understand with cobra law?
The COBRA ( Consolidated Omnibus Budget Reconciliation Act) Law gives workers who lose their jobs continued coverage in their former employers group health plan.
When would you be able to get Cobra health insurance coverage?
The Cobra health insurance temporarily extends the coverage by your sponsor or employer. This implies that you can get it after a loss of a job or loss of benefits.
What type of coverage does Cobra Insurance offer?
Cobra is the health insurance taken by an individual to replace his employer subsidized health insurance while shifting between two jobs, in order to maintain his status of continuous coverage.
What does cobra insurance coveage cover?
Cobra insurance coverage covers health and medical needs. They are a health insurance place. They don't cover really anything but medical and health things.
How often does the form 8335 have to be filed?
Form 8335 California Health plan (Health Net) COBRA Applicant InformationPlease fill out the entire enrollment form. It cannot be processed without all shaded information.I elect to continue group coverage as provided under federal law. The qualifying event was:As long as you meet the qualifications for the Cobra coverage.
What are the rules for continuing Cobra coverage in the United States?
Many people have health insurance through their employer's group plan. When they no longer qualify for coverage through this plan, federal and state law may provide the right to continue coverage in that group plan for a limited time.
Can an employer cancel your health insurance without offering you a cobra plan in Texas?
Yes, there are several different circumstances where this could happen. If the employer has discontinued the plan entirely, then there is no COBRA coverage to be offered. If the company has fewer than 20 employees, the plan does not have to offer COBRA coverage. If the company is a church, it is not required to offer COBRA. Last, if you were fired from the job for gross misconduct, the employer does not have to offer you COBRA coverage.
I am a General Motors retiree. Where can I get a policy since I lost my coverage?
Cobra law requires an employer if there is more than 20 employees to provide you with the continuation of the group health policy. You will have to contact GM about this.
Where can one buy a Cobra Extension?
A COBRA Extension is not something that one can purchase. COBRA is a type of health coverage and an extension is something that is allowed in particular cases where there has been a death of the covered employee or a divorce from a covered employee in which case an extension of 18 months of coverage will be allowed.
Does YOUR health insurance continue after you leave YOUR job?
People who leave their place of employment are entitled to continuing health care coverage through COBRA, if there are 20 or more people working at the company. COBRA will provide coverage from 18-36 months after you leave your job. http://www.dol.gov/dol/topic/health-plans/cobra.htm
Where can someone go to obtain temporary health insurance coverage?
Temporary health insurance coverage can be needed for a few different reasons. One of the most common reasons is losing a job. When you lose a job you can always apply for COBRA coverage.
