
Due to the pandemic, what seemed to be hard and fast rules turned out to be much more flexible. Suddenly, people could take money out of their 401(k) without penalty, late rent was forgiven, and kids didn’t have to get up and go into school every morning. What hasn’t changed is that everyone still needs secure health care access, and COBRA continuation coverage plays into this fact.
COBRA refers to the Consolidated Omnibus Budget Reconciliation Act of 1985, and it’s a federal law that requires employers offering health care benefits to extend coverage options to people who would otherwise lose them due to job loss, leave of absence, or other qualifying events. COBRA legislation doesn’t apply to everyone—but it does apply when employers have a group plan and employ more than 20 people—and can provide temporary coverage to employees and beneficiaries covered by the group plan.
These are the top three reasons employers should pay extra attention to COBRA this year.
Clearly, the national and health care landscape has changed and will continue to do so. Our families and our health remain the top priorities, and COBRA is just one method to help everyone along the way
About the Author:
Carla Wardin lives in St. Johns, Michigan, where she focuses her writing on the health and technology industries.