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Insurance Definition: COBRA

By Compuquotes Team on March 27th, 2008

COBRA:

Definition:

  • Short for Consolidated Omnibus Budget Reconciliation Act. A federal law under which group health plans sponsored by employers with 20 or more employees must offer continuation of coverage to employees who leave their jobs and their dependents. The employee must pay the entire premium. Coverage can be extended up to 18 months. Surviving dependents can receive longer coverage.

Information provided by Insurance Information Institute

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