What Is COBRA Insurance
CORBA insurance, short for the Consolidated Omnibus Budget Reconciliation Act, is a law – not an insurance policy – that was passed in 1986 to protect employees and their families from suddenly losing health insurance. Under the law, people have the option to continue to use their exact health plan after voluntary or involuntary job loss for up to 18 months. COBRA coverage also protects members in the event of death, divorce, loss of dependent status, or Medicare qualification.
Source: Cobra Insurance Direct