WHO IS ELIGIBLE?
- Your company has at least 20 employees and a group health plan and the eligible participant experiences a “qualifying” life event.
- You are the spouse or dependent child of an individual that qualifies for COBRA.
- You participate in a local or state government-sponsored group health that is eligible for COBRA.
How does COBRA work?
Election Period: The employer must provide a minimum of 60 days for eligible participants to elect continuation of their healthcare coverage.
Length of Coverage: COBRA coverage can last up to 18 months. Participants may apply for additional 18 months (total of 36 months) of coverage under certain circumstances.
Cost: COBRA can cost more than 102% of what other employees pay for the same coverage.
Benefits: Employees are entitled to continue the same coverage prior to the qualifying event.
Revocation of Waiver: If participants opt not to receive COBRA, they can revoke the waiver and continue their coverage at any time within the election period.
Qualifying Events:
- Losing a job for any reason except gross misconduct
- A reduction in number of hours worked
- Divorce or legal separation from the covered employee
- The covered employee becomes eligible for Medicare
- The covered employee dies.
Check out this COBRA Flow Chart
Questions?
We’re here to answer them. Please one of our COBRA experts at (320) 214-2909.
