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Term Details - COBRA

The federal Consolidated Omnibus Budget Reconciliation Act of 1986; gives employees and qualified dependents who lose group health benefits the right to continue benefits for specific periods of time under specific circumstances; employed and qualified dependents become eligible for COBRA coverage through events such as voluntary or involuntary job loss, reduction in the hours worked, transition between jobs, death, divorce, and other life events; qualified individuals may be required to pay the entire premium for coverage up to 102 percent of the cost to the plan.

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