The Consolidated Omnibus Budget Reconciliation Act or popularly known as COBRA, gives workers and their families the right to continue their group health insurance plans for a certain time period in an instance of health benefit loss, job loss, reduction in hours worked, transition between jobs, in the case of death, divorce or any other life events. This was passed by the Congress as a health benefit provision in the year 1986. This law amends the Employee Retirement Income Security Act, the Internal Revenue Code and the Public Health Act which provides continuation of group health coverage that could be facing termination if not for COBRA Administration. Individuals qualified for the COBRA insurance are mostly required to pay the full premium for coverage of up to 102% of the cost to the plan. Qualified individuals could also include certain employees, spouses and dependent children. The COBRA health coverage extension is usually a little more expensive than health coverage for active employees. The employers pays a part of the premium for active employees while COBRA administrated partakers are supposed to pay the entire premium by themselves. But it is also important to note that this COBRA Administrated insurance health coverages are generally less expensive than individual health coverages. It is also important to know that a child associated with the COBRA covered employee during the COBRA coverage is also considered as a qualified beneficiary of the COBRA insurance coverage.
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