General
What does COBRA stand for?
What is Consolidated Omnibus Budget Reconciliation Act
Name two types of qualified beneficiaries.
What is Covered Employees, Federally recognized spouses of the covered employees, Dependent children of covered employees
Clients must communicate a Qualifying Event to HealthEquity within how many days?
What is 30
Name at least 2 states HealthEquity offers State Continuation Coverage for?
Texas, New York, and California
Adam(the PQB) and Eve gave birth to their son Cain on 01/01. Adam needs to add Cain to his COBRA insurance coverage. How long does he have to notify HealthEquity of this life status Change?
What is 1/31
What year was COBRA enacted?
What is 1985
A Qualified Beneficiary (QB) must be employed on the day ______ the Qualifying event.
What is Before
HealthEquity legally has how many days to send out the COBRA Election Notice?
What is 14
How long do Qualified Beneficiaries have to elect State Continuation if applicable?
60 days
Michelle(the PQB) and Barack were recently divorced and it was official as of 05/08. When is Barack's deadline to report this life status change to receive an extra 18 months of COBRA coverage?
What is 07/07
How many employees must an employer have in order to be subject to COBRA?
What is 20 or more employees (on more than 50% of their business days in the year)
Name two Qualifying Events (QE's) that trigger 18 month COBRA
What is Voluntary termination, involuntary termination, Reduction of Hours, and Employer Bankruptcy
A Qualified Beneficiary has how many days to make a COBRA Election?
What is 60
Social Security Disability Extension allows for an additional ___ ______ of COBRA coverage
11 months
Joel recently completed his election form and returned it with a postmarked date of 09/27. Electing coverage for him and his adopted daughter Ellie. When is Joel's last day to make his initial premium payment?
What is 11/11
Name 2 plan types that are subject to COBRA?
What is Health Insurance Plans, Dental & Vision Plans, Drug or Alcohol Treatment Plan, Prescription/RX, Health FSA's, Health Reimbursement Arrangement, Wellness Programs, and Employee Assistance Programs
Name two Qualifying Events (QE) that trigger 36 month COBRA
What is Death of a covered employee, Divorce/legal separation, Loss of dependent child status, and Covered employee becomes entitled to Medicare
How many days does a Qualified Beneficiary have to pay their first COBRA Premium?
What is 45
_______ State continuation coverage allows for up to 110% of the premium during the state continuation coverage
California
Gregory House unfortunately lost his job on 09/17/2024 and subsequently enrolled into COBRA. However, prior to enrolling in COBRA he was declared disabled by the SSA and qualifies for the 11 month extension of his COBRA. When is his natural COBRA expiration date?
What is 02/17/2027
What are the 3 agencies that regulate COBRA?
What is Internal Revenue Service (IRS), Department of Health and Human Services (HHS), and Department of Labor (DOL)
This event disqualifies a Qualified Beneficiary from COBRA benefits
What is Gross Misconduct
Payments are due on the 1st day of a month with a ___ grace period.
What is 30 days
COBRA eligibility expires, Failure to pay premiums, requesting cancellation, no longer disabled during the 11-month disability extension, employer no longer offers coverage, medicare entitlement, for cause
Katie Couric and her husband have been on COBRA since 03/24/2024. She became eligible for Medicare on 02/02/2025 triggering a secondary life event for her husband. Now that he qualifies for an extra 18 months on COBRA what will be his new expiration date?
What is 03/24/2027