Institute:Office of National Coordinator (ONC) Workforce Training Curriculum
Component:Introduction to Health Care and Public Health in the U.S.
Unit:Financing Health Care - Part 1
Lecture:Payors in the U.S. Health Care System
Slide content:Federal Regulation of Private Health Insurance - 2 Consolidated Omnibus Budget Reconciliation Act (COBRA) 1985 Amendment to ERISA Allows continuation of group benefits in certain cases Voluntary or involuntary job loss Reduction in hours worked Transition between jobs Death of a spouse, divorce, and certain other life events Individuals may have to pay higher premiums Not required for companies with >20 employees 23
Slide notes:COBRA is an amendment to ERISA that allows employees to continue their health care insurance in certain cases, such as voluntarily leaving a job, involuntary job loss, death of a spouse, and divorce. Individuals usually have to pay at least some of the premium themselves, and they may even pay slightly more than what the insurance formerly cost. Companies with fewer than twenty employees are not generally required to offer COBRA benefits. 23