What is COBRA coverage continuation period in SAP PA-BN - Benefits?

SAP Term: COBRA coverage continuation period

• Component: PA-BN

• Component Name: Benefits

• Description: Legally defined period for which health insurance can be continued for a COBRA-qualified beneficiary.

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• Key Concepts: 
   Consolidated Omnibus Budget Reconciliation Act (COBRA) coverage continuation period is a period of time during which an employee or their dependents can continue to receive health insurance coverage after the employee has left the company. This period is usually 18 months, but can be extended in certain circumstances. 
  
  How to use it: 
   COBRA coverage continuation period is used to ensure that employees and their dependents have access to health insurance coverage after the employee has left the company. The employer must provide the employee with a notice of their rights under COBRA and the employee must then elect to continue coverage within a certain period of time. 
  
  Tips & Tricks: 
   It is important to be aware of the COBRA coverage continuation period as it can be extended in certain circumstances, such as if the employee becomes disabled or if they are eligible for Medicare. It is also important to note that the employer is responsible for providing the employee with a notice of their rights under COBRA. 
  
  Related Information: 
   The Consolidated Omnibus Budget Reconciliation Act (COBRA) is a federal law that requires employers to offer employees and their dependents the option to continue health insurance coverage after the employee has left the company. This law applies to employers with 20 or more employees and applies to group health plans sponsored by employers.