What is COBRA?
Answer:
COBRA is the acronym for the Consolidated Omnibus Budget Reconciliation Act,
which was enacted in 1986. COBRA is a law that amended several other acts to provide individuals with the ability to continue their group health insurance in a situation where they would not normally be able to.

For example, if you are fired from your job for any reason other than gross misconduct, or if you quit or are reduced to part-time, you qualify for COBRA benefits. In the case of these (and a few other) events, you would be able to continue your medical coverage for a period of 18 to 36 months. However, you are then responsible for the cost of your entire premium, and the premium can actually be up to 102% of the original premium. COBRA insurance is good coverage if you are in-between jobs.

By maintaining your health insurance the liklihood of your new health insurance company from not accepting or increasing your rates are minimal.
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