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Hello, my name is Vic Schumacher with HPE Financial Services. I'm an insurance broker
representing a variety of different insurance companies. The question was asked, how does
COBRA insurance work? Well, we'll give you first of all the idea of what COBRA is. COBRA
stands for the Consolidated Omnibus Budget Reconciliation Act, which was done in nineteen-eighty-five.
What it allows people to do is have insurance applied by their employer after they have
been terminated by the employment. The thing here is, you lost your job, you can take your
insurance with you through COBRA, but the premium for that insurance is going to be
your responsibility now, it is not the responsibility of the employer. Or your ex employer. With
COBRA the period of time it lasts is eighteen months and since you are now paying the entire
premium it becomes very expensive. COBRA is something that's nice to have, but it's something
that you don't really want to have. My name is Vic Schumacher, the company is HPE Financial
Services.