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The Consolidated Omnibus Budget Reconciliation Act (COBRA) health benefit provisions modify the Employee Retirement Income Security Act, the Internal Revenue Code, and the Public Health Service Act. These amendments mandate that group health plans offer a temporary extension of group health coverage that would otherwise end.

COBRA mandates that continuation coverage be provided to eligible employees, their spouses, ex-spouses, and dependent children in events where group health coverage might otherwise terminate. COBRA continuation coverage typically costs more than what active employees contribute for group health coverage because employers generally cover a portion of the employees' coverage cost, which can be fully charged to those receiving continuation coverage.

To be eligible for COBRA continuation coverage, your group health plan must fall under COBRA; a qualifying event must take place; and you must be a qualified beneficiary for that event. Moreover, a dependent child of a covered employee should also be offered COBRA coverage if the qualifying event causes the child to lose their coverage.

The coverage provided must be identical to the plan currently available to similarly situated active employees and their families, which is generally the same coverage they had immediately before the qualifying event.

A Qualified Beneficiary (QB) is an individual who has lost group health plan coverage due to a qualifying event such as termination or retirement. The individual must be a covered employee, spouse of a covered employee, or the dependent child of a covered employee. The person can elect to continue the group health plan coverage for a limited time on a self-pay basis.

Eligibility for COBRA coverage requires that you were enrolled in your employer's health plan while employed and that the health plan remains active for current employees.. 

To elect COBRA coverage, you must fill out and submit the election form provided by CPI no later than the Election Period End date ("Last Day to Elect") indicated on your COBRA Election Form, or by visiting cobra.mycpiteam.com.

You may want to consider short-term health insurance, marketplace plans, or employer-sponsored insurance when starting a new job. Short-term plans can serve as a temporary solution until you obtain more permanent coverage. Moreover, marketplace plans, offered through the Affordable Care Act, offer a range of options that could meet your needs and budget.

If you waive COBRA coverage during the election period, you must be permitted later to revoke your waiver of coverage and to elect continuation coverage as long as you do so during the election period. Then, the plan need only provide continuation coverage beginning on the date you revoke the waiver.

In the event of a covered employee's termination or reduction in work hours, qualified beneficiaries are eligible for 18 months of continuation coverage. For all other qualifying events, they may receive up to 36 months of coverage.

Yes, notice must be given as soon as practicable after the decision is made, and

it must describe the date coverage will terminate, the reason for termination.

If you decide to terminate your COBRA coverage early, you generally won't be able to get a Marketplace plan outside of the open enrollment period. 

A Health Care Flexible Spending Account (HCFSA) is a pre-tax benefit account utilized to pay for eligible medical, dental, and vision care expenses not covered by your health care plan or any other source.

FSA (Flexible Spending Account)

A Limited Purpose Flexible Spending Account (LFSA) is an option available to those enrolled in a High-Deductible Health Plan (HDHP) with a Health Savings Account (HSA). It exclusively covers dental and vision expenses only.

A Dependent Care Flexible Spending Account (DCFSA) is a pre-tax benefit account utilized to cover expenses for eligible dependent care services, including preschool, summer day camp, before or after-school programs, and child or adult daycare.

Why should I choose a Dependent Care plan? 

A qualifying dependent for a Dependent Care Flexible Spending Account (DCFSA) includes your tax dependents who are either:

• A child under the age of 13
• Your spouse or another tax dependent (regardless of age) who is mentally or physically incapable of self-care.

• Over the Counter (OTC) Info
• How to file a Claim 
• HRA vs FSA
• Letter of Medical Necessity
• Cobra FAQs
• Cobra Portal Guide
• HRA FAQs
• HSA Contribution Form
• HSA Transfer Request
• Why HSA