1) COBRA became Law in 1986
2) COBRA gives you the option to choose to keep your Group Health Insurance benefit after
A) Losing your job
B) Reduction in your working hours
C) Quitting your job
3) COBRA must be offered by ALL employers that employ 20 or more.
4) The length of time that you can keep COBRA depends on the qualifying event as listed below;
A) 18 months for reduction in hours or normal termination
B) 36 months for death
C) 36 months for Divorce
D) 36 months for Medicare Eligibility
E) 36 months for Loss of dependency by children of employee
F) Up to 29 months if employee meets Social Security definition of Disability
5) The employee or qualified dependents have 60 days after they get the election notice to choose health insurance coverage for themselves under COBRA.
6) The premium for COBRA coverage is equal to the full cost of your group health coverage plus up to 2% more for administrative costs making a total of 102%
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