If you do, your monthly premium will likely cost more than it did previously. The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) is a law passed by the U.S. Congress on a reconciliation basis and signed by President Ronald Reagan that, among other things, mandates an insurance program which gives some employees the ability to continue health insurance coverage after leaving employment. If you're looking for the healthcare term that COBRA stands for, you've come to the right place. We are nationally recognized experts on the Affordable Care Act (ACA) and state health insurance exchanges/marketplaces. Added together, this may be more than double what you used to pay as an employee for the same benefits.Under COBRA, you continue with the same health plan you had through your employer. If you have questions or comments on this service, please For those who aren’t sure if they want to activate COBRA because of the potentially high cost, there is the option of retroactive coverage. For example: You lose or quit your job. You may submit your information through this form, or call Before a group health plan must offer COBRA coverage, the group health plan administrator must be told about the qualifying event in a qualifying event notice. COBRA is the Consolidated Omnibus Budget Reconciliation Act of 1985, federal legislation that allows you – if you work for an insured employer group of 20 or more employees – to continue to purchase health insurance for up to 18 months if you lose your job, or your employer-sponsored coverage is otherwise terminated (in some situations, coverage can continue for up for 36 … COBRA health insurance, which came from the Consolidated Omnibus Budget Reconciliation Act, lets you temporarily keep (usually for up to 18 months) the same employer-based health plan you had at your old job. A qualifying event causes employees or their dependents to lose their group health coverage but lets them qualify for COBRA coverage. That's because your employer does not pay any portion of your COBRA premium. The mission of healthinsurance.org and its editorial team is to provide information and resources that help American consumers make informed choices about buying and keeping health coverage. Health Care COBRA acronym meaning defined here. On this page you will find the COBRA meaning, what COBRA stands for, and possibly some other relevant information. You divorce the employee. Passed by Congress in 1985, the Consolidated Omnibus Budget Reconciliation Act (COBRA) allows people who lose their employer healthcare coverage to stay on their former employer’s group health insurance plan for up to 18 months following the end of their employment. Most employers with group health plans offer this option to employees. COBRA (the Consolidated Omnibus Budget Reconciliation Act) is a federal law that allows you and any of your immediate family members to stay on an employer-sponsored health plan under certain circumstances. What does COBRA stand for in Health Care? A trusted independent health insurance guide since 1994. COBRA: A health insurance plan which allows an employee who leaves a company to continue to be covered under the company's health plan, for a certain time period and under certain conditions. WebMD does not provide medical advice, diagnosis or treatment.COBRA is a federal law that gives you the right to keep the health insurance you had from an employer if:Your hours were reduced so you no longer were eligible for your employerâs insurance.You lost coverage because the covered employee â such as you or your spouse -- started Medicare.Youâve had some other event that led to you losing employer-sponsored health insurance.COBRA is also available to spouses, former spouses, and dependent children.You have 60 days to decide if you want to continue your coverage through COBRA.