COBRA (Consolidated Omnibus Budget Reconciliation Act)

COBRA, or the Consolidated Omnibus Budget Reconciliation Act, is a U.S. law that allows people to continue their health insurance coverage after they leave a job or experience certain life events, like divorce or a reduction in work hours. While they can keep their benefits for up to 18 months (or longer in certain situations), individuals must pay the full premium themselves, which can be costly. This law provides a safety net for those who need to maintain their health coverage during transitional periods.