Everything you need to know about COBRA
COBRA provides the ability for you and the dependents covered on your health plan to keep coverage after you lose your job or lose coverage for other reasons.
You are eligible for COBRA if your employer’s health plan covers at least 20 employees and you have had an acceptable “qualifying event.”
A qualifying event is something that causes you or your dependents to lost health coverage, such as termination of employment, loss of full-time status, divorce or legal separation, or turning 26 (in the case of your children.)
If you have one of these events, your employer will notify you of your option to enroll in COBRA coverage within 14 days of the plan ending. You will then have 60 days to decide if you want to enroll.
You can keep COBRA coverage for 18 or 36 months, depending on the qualifying event.
In general, COBRA only applies to employers with 20 or more employees.
Your Employer’s Responsibility:
The employer must tell the plan administrator if you qualify for COBRA because of one of these reason:
- The covered employee dies
- The covered employee lost her/her job
- The covered employee becomes entitled to Medicare
- You’ve divorced or legally separated from the covered employee
- You were a dependent child or dependent adult who is no longer a dependent.
COBRA and MEDICARE:
Would you like my help?
If you would like help finding the right plan or just want to ask a few questions, you can call me directly at 207-370-0143 or use my simple form on the CONTACT page of this site to send an email message. The best part about working with me is that it will not cost you anything to talk with me to discuss your options and review the plans that are available. I am paid by the insurance companies in the form of a commission when you enroll in a plan. You will not pay anything to meet with me and you will pay the same price for your insurance that everyone pays whether they had my help or not.
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