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| Employer sold business, new health plan offered |
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Q: The business sold & new buyer has offered new health plan. Does the employees have the option of electing cobra on the old plan or because they our offered a plan with a new carrier they don't qualify?
A: Cobra is a continuation of a group health policy for an employee or their spouse and dependent children. You are not eligible for COBRA when you are still employed and your employer's health plan changes from one carrier to another. Your group health policy was replaced it wasn't lost. To be eligible for COBRA continuation a qualifying event must occur. Qualifying events are specific events that cause an employee and/or dependents to lose his or her group health coverage.
These events apply to the covered employee and dependents.
1. Voluntary or involuntary termination of employment (unless due to gross misconduct).
2. Your working hours have been reduced.
These events apply to covered spouses and the dependants.
1. Death of employee.
2. Divorce or legal separation.
3. Loss of dependant status, or when a child comes off of employees insurance due to age or school status.
4. Employee is entitled to Medicare benefits
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