Consolidated Omnibus Budget Reconciliation Act Of 1985, 1986, And 1990

What Does Consolidated Omnibus Budget Reconciliation Act Of 1985, 1986, And 1990 Mean?

The Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985, 1986, and 1990 introduced a series of economic policy changes enacted under multiple presidents. One key provision of these changes affected health insurance, requiring companies with more than twenty employees to offer laid-off employees, their spouses, and children the option to remain on the company’s health insurance plan for up to 18 months.

Insuranceopedia Explains Consolidated Omnibus Budget Reconciliation Act Of 1985, 1986, And 1990

COBRA also introduced several other policy changes affecting insurance. For instance, it allows an employee who is eligible for Medicare and works at a company with 20 or more employees to continue health insurance coverage for themselves and their family in the event of divorce, legal separation, or death.