COBRA
COBRA
The Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985 mandates that employers offering health insurance with 20 or more employees must continue to offer employee benefits when they quit, are laid off or fired, or have their work hours reduced. Additionally, benefits must be offered to the employee’s spouse and dependents. COBRA benefits apply to health care plans, dental plans, vision plans, prescription drug plans, etc. Benefits may continue for up to 18, 24, 29 or 36 months, depending on the cause for the loss of benefits.
| Option A = Medical, Vision, and Dental | Option B = Medical Only | ||
| PPO Plan | Surest Plan | HDHP | |
| Employee (only) | |||
|---|---|---|---|
| Option A | $1,176.20 | $1,042.73 | $698.89 |
| Option B | $1,101.95 | $968.47 | $624.64 |
| Employee plus Spouse | |||
| Option A | $2,329.98 | $1,936.32 | $1,375.14 |
| Option B | $2,189.50 | $1,795.84 | $1,234.67 |
| Employee plus Child(ren) | |||
| Option A | $2,127.38 | $1,758.53 | $1,268.79 |
| Option B | $1,997.66 | $1,628.81 | $1,139.06 |
| Employee plus Family | |||
| Option A | $3,188.17 | $2,713.00 | $1,849.08 |
| Option B | $2,987.42 | $2,512.24 | $1,648.32 |
| Rates for Dependents Only | |||
| Option A | |||
| Spouse | $1,176.20 | $1,042.73 | $698.89 |
| One Child Only | $1,176.20 | $1,042.73 | $698.89 |
| Two + Children | $2,127.38 | $1,758.53 | $1,268.79 |
| Spouse and Child(ren) | $2,127.38 | $1,758.53 | $1,268.79 |
| Option B | |||
| Spouse | $1,101.95 | $968.47 | $624.64 |
| One Child Only | $1,101.95 | $968.47 | $624.64 |
| Two + Children | $1,997.66 | $1,628.81 | $1,139.06 |
| Spouse and Child(ren) | $1,997.66 | $1,628.81 | $1,139.06 |