COBRA (Consolidated Omnibus Budget Reconciliation Act of 1985)
COBRA extends relief to terminating employees and their qualifying dependents by requiring group health plans of employers of 20 or more individuals to offer covered individuals 18 (and, in some cases, 36) additional months of coverage at a premium not to exceed 102 percent of what it would have cost the plan to cover the relevant individuals absent termination of employment or some other qualifying event.
