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What is COBRA?

Help from a COBRA

This menacing looking acronym was given to us by a piece of legislation called the Consolidated Omnibus Budget Reconciliation Act of 1985. Essentially, it requires most employers to give employees who are leaving the company to continue to purchase the same health insurance policy for up to 18 months or after leaving the company. If you're starting up a business, COBRA may give you the buffer to find the right kind of health insurance for your young company. Believe me, you'll need it. (For more information, see such sites as www.cobrainsurance.com and www.cobrahealth.com.)

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