Products: COBRA

COBRA refers to the Consolidated Omnibus Budget Reconciliation Act. Passed in 1985, COBRA gives employees and their dependents the right to choose to continue group health benefits should they lose their health benefits such as upon termination. In designing a benefits plan,
Hanratty & Associates consultants will guide you in understanding the specifics of COBRA so you are in compliance.

Generally, employers with 20 or more employees need to comply with COBRA. Under COBRA benefits are usually extended for up to an additional 18 months or more, depending on the qualifying event. In addition to termination of employment, other types of circumstances allowed under COBRA could include reduction in hours worked, death, divorce and other life events.

Contact us to learn more about COBRA!