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The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) is a law passed by the U.S. Congress on a reconciliation basis and signed by President Ronald Reagan that, among other things, mandates an insurance program which gives some employees the ability to continue health insurance coverage after leaving employment.
COBRA continuation coverage helps employees keep health insurance when their employment ends. This coverage can work with Medicare.
If you're soon to be retired and aren't yet eligible for Medicare, you may be in the market for a new health insurance plan and thinking about taking a look at getting health insurance with COBRA.
You can have both COBRA and Medicare. If you are on COBRA when you become eligible for Medicare, your COBRA coverage will stop.
Legislative efforts that have attempted to address health-insurance related job lock in the US are the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) and the Health Insurance Portability and Accountability Act of 1996 (HIPAA).
The Equal Access to COBRA Act was a bill which would amend the Internal Revenue Code, the Employee Retirement Income Security Act of 1974, and the Public Health Service Act to extend COBRA health insurance coverage to qualified beneficiaries, defined to include domestic partners.
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