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WHAT IS COBRA (THE CONSOLIDATED OMNIBUS BUDGET RECONCILIATION ACT OF 1985)?
This acts enables you to carry your current health insurance from your employer extended at group rate for up to 36 months following a qualifying event that results in the loss of your health insurance for a qualified beneficiary (you note the words qualifying event.) You should also note that this acts does not include voluntary benefit plans where your employer only acts as a payroll deduction, yet it includes broad health coverage such as medical expense plans, dental plans, vision care plans, prescription drug plans, regardless if your coverage was paid by your employer or by some other entity (i.e. managed care organization.)
