Consolidated Omnibus Budget Reconciliation Act Of 1985COBRA Financial Glossary

What is it? If your company is covered by a COBRA plan and you leave your job for whatever reason and were an active participant in the companys health plan prior to your departure date, you have the right, if you wish, to continue the health insurance coverage you and your family received, for at least 18 months. You will have to pay for this coverage out of your own pocket, but it cannot be more than 102 percent of the normal cost of coverage. COBRA is meant to protect you while you look for another policy.

Finance Term Definition Added By: Anthony

Send To Friends!

If you'd like to send the Consolidated Omnibus Budget Reconciliation Act Of 1985COBRA definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -

We hope you now understand the meaning of Consolidated Omnibus Budget Reconciliation Act Of 1985COBRA. If you need any more information on this term, please don't hesitate to contact us.

Other Similar Finance Terms:

Financial Term Incremental Borrowing Rate is The rate that, at the inception of the lease, the lessee would have incurred to borrow over a similar term the funds necessary to purchase the leased asset.

Financial Term NEUT is Neutral

Financial Term Credit Score is A statistically derived, numerical score, based on various characteristics of an individuals credit history, which measures creditworthiness.

Financial Term Floor Plan is The layout of a building or portion of a building (apartment, office, etc.) showing the size of the rooms and the purpose of each (bath, bedroom, etc.).

Financial Term Shared equity mortgage is A home loan in which the lender is granted a share of the equity in the property, there by allowing the lender to participate in the proceeds from resale. Shared equity plans often require the lender to buy a portion of the equity by providing a portion of the down payment.