Q:

When was the Consolidated Omnibus Budget Reconciliation Act passed?

A:

Quick Answer

The Consolidated Omnibus Budget Reconciliation Act was passed in 1986, intending to help employees and their families retain health insurance coverage after voluntary or involuntary job termination, explains the U.S. Department of Labor. The COBRA act applies to employers with 20 or more workers.

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Full Answer

The COBRA act states that an employee who is either terminated or has work hours reduced is eligible for health coverage for himself, his spouse and dependent child for 18 months after the qualifying event. In order to maintain their group health benefits, qualifying workers are required to pay up to 102 percent of the cost of the plan, as stated by the U.S. Department of Labor.

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