There are lots of questions and doubts surrounding the COBRA, hence here is an attempt to eliminate the doubts and provide clarification. Here are few common questions that people would like to know answers for regarding this Act.
COBRA Continuation Health Coverage- What is it ?
The government passed COBRA in the year 1986. This law amends the Internal Revenue Code,Public Health Service Act and the Employee Retirement Income Security Act , in order to offer continuous group health coverage, which otherwise would have been terminated.
What does COBRA perform?
It provides the right to temporary continuation of insurance (health) coverage at group rates to former employees, spouses, retirees, former spouses and dependent children.
When is this coverage available?
It is only available when the coverage is lost due to a particular reason.
To be Continued….
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I was forced out of my job and worked through April, 2009. I made CONSIDERABLY less than $150,000 per year. I have been paying my own COBRA premiums myself. What do I have to do to recover some of the money I have paid for those premiums? How do I get the cost of my premiums reduced?