COBRA stands for the Consolidated Omnibus Reconciliation
Act of 1985 enacted in 1986. Since its original enactment,
COBRA has been modified numerous times by Congress.
The Act provides terminated employees or those who
lose coverage because of reduced work hours the ability
to purchase group health coverage for them selves and
their families for limited periods of time, ranging
from 18 to 36 months. The law specifies rates, coverage
qualifying events, eligible individuals, notification
requirements and payment terms.