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Description COBRA (which stands for Consolidated Omnibus Budget Reconciliation Act) is a federal Act put into place in 1986 to extend the healthcare coverage for employees that have been laid off or that have lost their employment under qualifying circumstances. Individuals may also qualify for COBRA benefits if they have had a reduction in the number of hours that they work. COBRA allows qualifying individuals to continue to receive group health care coverage at a group rate for a limited period of time.
Who Qualifies for COBRA Continuation Employees that have involuntarily lost their jobs or had a reduction in their hours may elect to be covered by COBRA. In such a case, they would have to pay the full amount of their premiums, which are sometimes subsidized by their former employers, but not always. Potential COBRA beneficiaries include:
How to Enroll in COBRA Continuation Coverage Plans After an employee has qualified for COBRA coverage, the employer must notify the health care plan administrator within 30 days of the qualifying event. Former employees and beneficiaries should be sent a plan election notice within 14 days of the date that the plan administrator receives notification of the qualifying event. The individual has up to 60 days to enroll in the COBRA plan. After enrolling in the COBRA plan, the individual has up to 45 days to pay the first premium. Requirements for Employers COBRA applies to state and local governments, employee organizations, and private-sector employers that have at least 20 employees. When an employee has a qualifying event, such as when an employee is laid off, the employer must notify the health care plan administrator within 30 days of the qualifying event. Employers should also post the COBRA Continuation Coverage Rights poster in the workplace in a place that is accessible by all employees, such as an employee break room.
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