| Are you looking for individual health insurance at a | | | | ease of having access to plan that you are |
| group rate? If so, COBRA is your answer. | | | | already familiar with, saving you the time of |
| It's not a snake, but its high cost can make it feel | | | | evaluating and enrolling in a new health insurance |
| like one! | | | | plan. |
| COBRA stands for the Consolidated Omnibus | | | | According to various surveys, anywhere between |
| Budget Reconciliation Act. | | | | 25% and 50% of people who are eligible for |
| It is a law that was passed by Congress in 1986. | | | | COBRA sign up under the plan. COBRA coverage |
| COBRA provides you the option to continue your | | | | generally lasts for 18 months, with extensions |
| current healthcare plan (i.e. your former | | | | available in certain instances. |
| employer's group health insurance) at the group | | | | To obtain insurance under COBRA, fill out an |
| rate that your former employer pays. COBRA | | | | application form from your former employer. If |
| enables you to continue to go to the same | | | | you were previously covered under your |
| doctors, receive the same prescriptions, and be | | | | employer's health plan and have not received |
| treated at the same hospitals you're accustomed | | | | information about COBRA, contact your human |
| to. | | | | resources or benefits manager as soon as |
| The most important feature of COBRA is that if | | | | possible. You are given a 60 day window to sign |
| you have a pre-existing medical condition (e.g. | | | | up, so you may still be eligible. |
| diabetes) you do not have to worry about | | | | Note: You will also be eligible for COBRA if you |
| qualifying for a new plan. | | | | have had your work hours reduced to the point |
| In addition, because of the tremendous variety in | | | | where your employer no longer contributes to |
| health coverage options, COBRA provides the | | | | your health insurance. |