Wednesday, November 18, 2009

What is COBRA?

COBRA is the abbreviation for the Consolidated Omnibus Budget Reconciliation Act, a law which provides employees an opportunity to continue health insurance benefits for themselves, and for their dependents, in certain circumstances and for a limited time period. For an indepth look at how COBRA works, please visit the US Department of Labor website.

If you are going through a divorce, you may be eligible to continue your health benefits under your spouse's plan. Visit the website noted above so you have a basic understanding of how the program works so that you can plan appropriately.