COBRA health insurance is also known as its official name, the Consolidated Omnibus Budget Reconciliation Act of 1985. This act was passed in 1985, and signed by then president Ronald Reagan. Generally speaking, the act gives employees the right to continue to receive health insurance after they leave a company. To go along with this, the act also deals with other areas. But that being said, most people are familiar with COBRA and how it relates to health insurance.
COBRA is not something that every person has to deal with during the course of their life. In fact, most people never have to look into COBRA, how it works, and whether or not they are eligible. Of course, there are many people who have picked up COBRA in the past and quite a few who will have to do so in the future.
If you lose your job, you may lose your health insurance coverage at the same time. Fortunately, through COBRA you can purchase the same coverage until you find another job or another means of obtaining a policy. As you can imagine, this act has helped to bridge the gap for millions of people.
For those interested in COBRA health insurance coverage, the best thing to do is talk to your human resources department. They will be able to supply you with further information such as who you need to speak with to get everything setup, the cost of the plan, and much more. Make sure that you get the wheels in motion as soon as possible. Once you learn that you are being laid off it is time to move ahead so that you do not miss a beat.
COBRA health insurance has a lot to offer. This act has made it easy for many people to keep coverage while seeking new employment.
