COBRA (Consolidated Omnibus Budget Reconciliation Act)

Definition

A 1986 U.S. law allowing employees to continue health insurance after leaving their job, though at full premium cost (ouch). It's basically the government saying 'you can keep insurance, just pay what we were subsidizing.'

Example Usage

After my layoff, COBRA coverage cost $1,200 monthly—more than my unemployment benefits.

Origin

Named after the 1986 U.S. federal legislation

Fun Fact

COBRA coverage is limited to 18-36 months depending on the qualifying event; it's a temporary band-aid, not a solution.

Source: U.S. Labor Law (29 U.S.C. § 1161)

Related Terms

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COBRA

Consolidated Omnibus Budget Reconciliation Act—allows employees to continue health insurance after leaving, at eye-watering full cost. It's the law that proves your employer was subsidizing most of your healthcare all along.

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wage compression

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negotiation

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