COBRA Insurance has strict rules that beneficiaries must follow to receive health care. First, to be eligible, their employers must first select COBRA for their employees both part-time and full-time. The part-time employees are entitled to at least 18 months of coverage after being laid off and the full-time employees can get up to 36 months of coverage.
The coverage is for the same health insurance company the company normally uses. The premiums for the ex-employee are based on what they were paying before being let go. Now, the ex-employee is responsible for the full premium instead of just the employee portion. Now, they must pay both portions, the employee’s, and the employer’s. Thus, the excessive cost of COBRA is the doubling of the original costs to the employee.
The former employee must take advantage of the COBRA health care within 60 days of being notified of their election options. The date of terminating your ability to choose COBRA will be included in the notice along with the due date for the monthly payments. It is essential to maintain coverage that the beneficiary follow COBRA Insurance Rules.