Cobra Health Insurance
Cobra health insurance will help you continue your group health insurance temporarily between jobs.
Cobra health insurance came into existence when Congress passed the landmark Consolidated Omnibus Budget Reconciliation Act (COBRA) health benefit provisions in 1986. The law amends the Employee Retirement Income Security Act (ERISA), the Internal Revenue Code and the Public Health Service Act to provide continuation of group health coverage that otherwise would be terminated.
Cobra health insurance contains provisions giving certain former employees, retirees, spouses and dependent children the right to temporary continuation of health coverage at group rates. This coverage, however, is only available in specific instances. Group health coverage for COBRA participants is usually more expensive than health coverage for active employees.
The Cobra health insurance generally covers group health plans maintained by employers with 20 or more employees in the prior year. It applies to plans in the private sector and those sponsored by state and local governments. The law does not, however, apply to plans sponsored by the Federal government and certain church- related organizations.
Under Cobra medical insurance, a group health plan ordinarily is defined as a plan that provides medical benefits for the employer's own employees and their dependents through insurance or otherwise. Medical benefits provided under the terms of the plan may include inpatient and outpatient hospital care, physician care, surgery and other major medical benefits, Prescription drugs and so on.
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