What is COBRA and am I entitled to it?
COBRA stands for Consolidated Omnibus Budget Reconciliation Act, which requires that any company with 20 or more employees offer employees (and their immediate families) an 18-month extension of their healthcare coverage when their employment ends. The employee, however, pays the full health insurance premium, plus a 2 percent administrative cost. Employees have 60 days after notification to enroll and another 45 days to make the first payment. No employee can be denied COBRA, regardless of any preexisting conditions, and if an employer fails to inform an employee of coverage, the employer can be held liable for all medical claims arising from lack of coverage, and may also face IRS violations.