What is COBRA?
COBRA is an acronym for Consolidated Omnibus Budget Reconciliation Act. The main purpose of COBRA was to require employers maintaining group health plans to offer employees and their dependents the opportunity to continue their coverage in cases where they would otherwise lose coverage because of certain events.
The following table shows COBRA qualifying events and associated benefits coverage time frames:
| EVENT | BENEFICIARY | DURATION |
| Termination of employment or Reduction in hours of the Covered Employee | Covered Employee Spouse (of Covered Employee) Dependent Children (of Covered Employee) |
18 Months |
| Termination of employment or Reduction in hours of the Covered Employee, with a Social Security disability determination | Covered Employee Spouse (of Covered Employee) Dependent Children (of Covered Employee) |
29 Months |
|
Spouse (of Covered Employee) Dependent Children (of Covered Employee) |
36 Months |
| Loss of Dependent Status | Dependent Children (of Covered Employee) | 36 months |
| Bankruptcy Proceeding of the Employer | Retiree Surviving Spouse Spouse of Retiree Dependent Child |
Lifetime Until the retiree dies, plus up to 36 months |