COBRA

Definition

A health insurance plan which allows an employee who leaves a company to continue to be covered under the company's health plan, for a certain time period and under certain conditions. The name results from the fact that the program was created under the Consolidated Omnibus Reconciliation Act. The system is designed to prevent employees who are between jobs from experiencing a lapse in coverage.

Use COBRA in a sentence

During the hiring process the employer had mentioned their cobra and how it could be beneficial for him to accept.

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Upon leaving employment with XYZ Corporation, I was offered COBRA insurance for a period of 18 months following my termination.

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When you are leaving your current job (whether because you are resigning, due to layoff, or being terminated), you have the opportunity to maintain your current health insurance for a period of time through COBRA.

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co-borrower benefit