The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) is a federal law passed by Congress that, among other things, allows individuals to maintain health coverage following termination due to a qualifying event. The law applies both to insured employees and dependents, such as a spouse or child.
If you elect COBRA coverage, you pay 100% of the premium, including the share previously paid by your employer, plus a small administrative fee.