Consolidated Omnibus Budget Reconciliation Act ( COBRA)

The Consolidated Omnibus Budget Reconciliation Act (COBRA) gives workers and their families who lose their health benefits the right to choose to continue group health benefits provided by their group health plan for limited periods of time under certain circumstances such as voluntary or involuntary job loss, reduction in the hours worked, transition between jobs, death, divorce, and other life events. Qualified individuals may be required to pay the entire premium for coverage up to 102 percent of the cost to the plan.

COBRA generally requires that group health plans sponsored by employers with 20 or more employees in the prior year offer employees and their families the opportunity for a temporary extension of health coverage (called continuation coverage) in certain instances where coverage under the plan would otherwise end.

Only 10% of Americans eligible for COBRA insurance in 2006 used it, many because they were unable to afford to pay the full premium after their job loss, While some employers may voluntarily help subsidize or fully cover the cost of COBRA insurance as part of a termination or exit package, it is more common for the ex-employee to cover the entire cost

The American Recovery and Reinvestment Act 2009 signed by President Barack Obama includes a 65% subsidy to employees for COBRA-enabled insurance for up to 9 months after an involuntary termination (this has since been expanded to 15 months). An employee is eligible for this subsidy if

the termination of employment was involuntary,
the terminated employee has no other group sponsored health insurance option, and
the terminated employee is otherwise eligible to enroll in COBRA

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