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Cafeteria Plans They are insurance plans offered by employers that allow the employees to choose their benefits from different taxable and non taxable options. Sometimes it is often known as a flexible benefit plans. Employers choose cafeteria plans to make the employees happy with their plans and to control benefit costs.
Certificate of Credible Coverage A written required document, that has to be provided to individuals by the plan. Certificate is issued when the coverage ends or when the individual becomes eligible for COBRA, the COBRA coverage ends or at any time upon request. The certificate includes the plan type and time periods of coverage. The certificate is used to produce record of coverage and to eliminate a pre-existing condition exclusion time period.
Church plans Group health plans sponsered by churches or other religious institutions that are exempt from the COBRA law requirements.
COBRA The Consolidated Omnibus Budget Reconciliation Act of 1985. COBRA is the name of a Federal law that mandates employers to offer certain individuals a continuation of their group health plan at affordable group rates, if the loss of insurance was due to certain qualifying events or change in family status. Specific time period are offered due to each qualifying event.
COBRA plan administrator A company and or individual who perform tasks need on a daily basis to administer COBRA information to the covered employee and their qualified beneficiaries. The administrator is sometimes hired as a 3rd party by the employer.
Continuation coverage Is an extension of the group health plan given by the employer. The date is usually the day following the qualifying event or the date following the loss of coverage. That date is to be determined without discrimination by the employer, to all beneficiaries of the policy.