What if I leave my job?

The Consolidated Omnibus Budget Reconciliation Act

(COBRA), a law created in 1986, gives workers (and

members of their family) who lose their health

insurance benefits the right continue their group

health insurance for a limited period of time under

circumstances such as voluntary or involuntary job

loss, reduction in hours, transition between jobs,

divorce, adoption and death.

Generally, the employee pays up to 102% of the premium

cost for the same policy; this is still usually less

expensive than buying an individual insurance policy.

There are three basic aspects for qualifying for

COBRA: the qualifying event, the insurance plan

coverage and the qualified person.

Each aspect is taken into consideration when applying

for COBRA and you must elect to either apply for COBRA

or waive your rights to COBRA within 14 days after a

qualifying event.

You must also have been in the group insurance plan

during your employment to be eligible. Although there

are exceptions, generally you may continue to pay your

own premiums to keep COBRA coverage intact for up to

18 months.

Companies who have fewer than 20 employees, State or

Federal employers or employee organizations may not

offer COBRA coverage.

Check with your health insurance administrator to see

if you may qualify. You may also have this information

readily available in your group health insurance

policy or in your company handbook.

Although it may be expensive, the cost of being able

to keep your group insurance coverage rate may be well

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