Today's word: COBRA
Theme for this fortnight: INSURANCE
COBRA--Consolidated Omnibus Budget Reconciliation Act of 1985.
A federal act making provision for the continuation of an employee's health insurance coverage, as well as the coverage for dependents, should the employee terminate his or her employment. This act is in effect whether or not the termination was voluntary. It applies to all employer-sponsored group health plans with 20 or more employees.