What does COBRA mean? Read on to discover the definition & meaning of the term COBRA - to help you better understand the language used in insurance policies.
The Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985, 1986, and 1990 was a series of economic policy changes that were put into law under several different presidents. These changes had effects on health insurance, including mandating that companies with over twenty employees give their laid off employees and their spouses and their children the option to stay on the company health insurance plan for 18 months.
We hope the you have a better understanding of the meaning of COBRA.