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Cobra was passed by former President Reagan in the 1980's. It stands for Consolidated Omnibus Budget Reconciliation Act.
It created "Title X" which allows families that have something happen (death, fired etc.) receive of buy into a federally subsidised healthcare programme. It also punishes employers with more than 20 full-time workers that do not offer some sort of group health plan which workers can buy into when normally employed. It is also used for younger people that are no longer qualify as part of their parent's health plan.
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Can an employer cancel your health insurance without offering you a cobra plan in Texas?
Yes, there are several different circumstances where this could happen. If the employer has discontinued the plan entirely, then there is no COBRA coverage to be offered. If the company has fewer than 20 employees, the plan does not have to offer COBRA coverage. If the company is a church, it is not required to offer COBRA. Last, if you were fired from the job for gross misconduct, the employer does not have to offer you COBRA coverage.
What is Cal-Cobra and how does it work. I don't know where to get information about this and we have only 5 months remaining on Cobra and no job yet.?
Cal-COBRA is a California law for employers as well as people that use up their federal COBRA. When the 18 months of Federal COBRA ends, Cal-COBRA provides 18 more months of the health plan.
Where can I find out more info on cobra insurance?
The best place to find information on Cobra insurance is at their online site at www.cobrainsurance.com. Cobra insurance offers up to 65% off the price of a regular health plan.
Is a person guaranteed cobra if she is currently under a group plan and may lose coverage since she recently went on part time status or may just quit her job altogether?
If you were in a group plan, they have to offer you COBRA. The catch is you have to pay the premiums.
Is Cobra insurance affordable for someone on a budget?
No, it's not. When you're on COBRA, you have to pay the full group rate for your employer's plan, unsubsidized by your employer, which will usually be hundreds per month.
What options do cobra offer to an employee who has left a company where they were participating in a flexible spending account?
Cobra does not cover FSA's. You will be allowed to continue with the medical plan but the FSA is lost with the job.
What does people understand with cobra law?
The COBRA ( Consolidated Omnibus Budget Reconciliation Act) Law gives workers who lose their jobs continued coverage in their former employers group health plan.
How does cobra participation affect ObamaCare?
Provided your employer's plan was ACA-compliant (and, as of 1 Jan 2014, it's required to be), if you participate in COBRA after being laid off, it is considered a valid option. Note that you do NOT qualify for any subsidy when using COBRA. As such, I would expect that overall COBRA participation (i.e. the number of people opting to obtain coverage under the COBRA provisions) will drop significantly except amongst the well-off, as many people will be able to obtain equivalent insurance through the state Exchanges, and either opt for less-expansive (and less expensive) coverage, or qualify to receive a subsidy. That is, the Exchanges offer virtually all the benefits of the COBRA law. The sole unique benefit of buying via COBRA is that your existing company-supplied plan may not be offered on the exchange, and you'd like to remain on that specific plan. Also, for people who do not qualify for subsidies on the exchanges, it is possible that their costs for insurance on COBRA may be slightly less than the equivalent plan on an Exchange (as the group-level coverage of large employers is still cheaper than that of individual plans from Exchanges).
Is flexible spending account covered by cobra if employee is terminated?
IRS regulations limit COBRA participation in most FSAs. The continuation coverage under the FSA need not be offered for any plan year after the plan year in which the qualifying event occurs if the FSA satisfies two conditions:a) The employer offers another group health plan; andb) For the plan year in which the qualifying event occurs, the maximum amount that the FSA could charge as a premium for a full plan year of COBRA continuation coverage equals or exceeds the maximum benefit available under the health FSA for that year.This almost always occurs.FSAs need not make COBRA continuation coverage available as of the date of the qualifying event if:c) The maximum benefit available to the qualified beneficiary under the FSA for the remainder of the plan year is not more than the maximum amount that the plan could require as payment for the remainder of that year to maintain coverage under the FSA.If all three (a, b, & c) are satisfied, COBRA does not have to be offered for the FSA at all.If just a) & b) are satisfied, COBRA has to be offered for the FSA for the balance of the current plan year only.If both the first two conditions (a & b) are not satisfied, COBRA has to be offered for the full 18, 29, or 36 month period that would normally apply, depending on the qualifying event. This will usually only be true where the employer offers the FSA only and does not offer another group health plan.
What is the purpose of COBRA medical insurance?
If you want to know what the purpose of COBRA medical insurance is, it is to protect certain former employees and their needs when thy lose coverage under a group health plan. This is a very useful thing to have.
Can your husband still carry you on his insurance if he divorces you?
No. If it's a group plan, check COBRA If an individual plan, the company should just be able to split the policy or give the spouse a new one.
Is there a benefit to carrying cobra while you wait for approval on an individual policy?
THERE IS A PERSONAL BENEFIT BY CARRYING A COBRA INS WITH WAITING ON ANOTHER POLICY..ALL MEDICAL INS GOES THROUGH YOU SOCIAL SECURITY NUMBER.. WHEN AN INS AGENCY PULLS UP YOUR SOCIAL SECURITY NUMBER IT SHOWS THAT YOU ALREADY ARE CARRIED BY A COBRA INS.. IT LOOKS BETTER.. DOES NOT REALLY "MAKE A DIFFERENCE" BUT ALSO YOU NEVER KNOW WHEN SWITCHING FROM ONE INS TO ANOTHER WHAT WILL HAPPEN SO MY ADVISE DO NOT CANCEL A COBRA PLAN UNTIL ALL PAPERWORK IS SIGNED WITH THE NEW PLAN.
