COBRA Benefits (Health Insurance)
Under the Consolidated Omnibus Budget Reform Act (COBRA), an eligible employee and/or the eligible employee's family has the right to continue health insurance protection when any of the following qualifying events occur:
- the employee terminates for any reason other than gross misconduct
- the employee has insurance for dependents and the insured dependent:
- becomes a widow(er)
- becomes an orphan
- the employee ceases to be eligible for coverage as a dependent under the terms of the plan, or
- the dependent is separated or divorced from the employee
- the employee’s job or the employee’s spouse’s job changes in such a way that health insurance benefits are significantly changed or lost.
In order to be eligible for COBRA coverage, an employee must have been covered immediately prior to the qualifying event. Employees must let the College know of their divorce or legal separation or if a dependent ceases to be eligible under the College's group health insurance plan. Employees and their qualified beneficiaries are also responsible for notifying the College within 60 days of qualifying for social security disability benefits.
There may be other coverage options for you and your family. When key parts of the health care law take effect, you’ll be able to buy coverage through the Health Insurance Marketplace. In the Marketplace, you could be eligible for a new kind of tax credit that lowers your monthly premiums right away, and you can see what your premium, deductibles, and out-of-pocket costs will be before you make a decision to enroll. Being eligible for COBRA does not limit your eligibility for coverage for a tax credit through the Marketplace. Additionally, you may qualify for a special enrollment opportunity for another group health plan for which you are eligible (such as a spouse’s plan), even if the plan generally does not accept late enrollees, if you request enrollment within 30 days.
The information above is general in nature and does not outline all of the provisions of COBRA. Questions should be directed to the Human Resources Office.