Consolidated Omnibus Budget Reconciliation Act of 1985, 1986, and 1990 (COBRA)
Definition - What does Consolidated Omnibus Budget Reconciliation Act of 1985, 1986, and 1990 (COBRA) mean?
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.
Insuranceopedia explains Consolidated Omnibus Budget Reconciliation Act of 1985, 1986, and 1990 (COBRA)
COBRA also had a number of other policy changes that affected insurance. For example, it allows for an employee who is eligible for medicare and works at a company with 20 or more employees to get continued health insurance coverage for themselves and their family if they become divorced, separated, or if they die.
How Well Do You Know Your Life Insurance?
The more you know about life insurance, the better prepared you are to find the best coverage for you.
Whether you're just starting to look into life insurance coverage or you've carried a policy for years, there's always something to learn.