A federal law called the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA), provides for your right to continue your health insurance coverage after separation from employment.
You will or should receive notice of your COBRA rights from your employer within 14 days of the benefit plan administrator’s receipt of your separation from employment.
Basically, COBRA provides that you may continue your employee health insurance coverage for up to 18 months by making an election to do so within 60 days of receiving your employer’s notice of COBRA rights.
If you elect continued coverage, you may only be charged the cost of the employer’s premium as well as a 2% administrative fee.
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