COBRA Knowledge Quiz

What does COBRA stand for?

• Consolidated Omnibus Budget Reconciliation Act

• Comprehensive Omnibus Budget Reconciliation Act

• Consolidated Omnibus Benefit Reconciliation Act

• Comprehensive Omnibus Benefit Reconciliation Act

What is the main purpose of COBRA?

• To allow you to keep your employer's health insurance after losing your job

• To provide free health insurance to unemployed individuals

• To offer discounted health insurance plans

• To mandate health insurance for all employees

COBRA applies to companies with how many employees?

• 20+ employees

• 10+ employees

• 50+ employees

• 100+ employees

Under COBRA, what is the cost responsibility for the health plan?

• You pay the full cost

• The employer pays the full cost

• The government subsidizes the cost

• The cost is shared between you and the employer

When can you use COBRA?

• If you lose your job due to gross misconduct

• If your work hours are reduced, making you ineligible for the company's health plan

• If you experience certain life events

• If you voluntarily quit your job

Which of the following is NOT a reason to use COBRA?

• Losing your job (except for gross misconduct)

• Experiencing certain life events

• Voluntarily quitting your job

• Reduction in work hours making you ineligible for health plan

Which of these events might be the most common reason for using COBRA?

• Death of the employee

• Divorce from the employee

• Child no longer qualifies as a dependent

• Employee becomes eligible for Medicare

How long does COBRA usually last?

• 12 months

• 18 months

• 24 months

• 36 months

In some cases, how long can COBRA be extended to?

• 24 months

• 30 months

• 36 months

• 48 months

What does the duration of COBRA depend on?

• The employer's decision

• The qualifying event

• The employee's age

• The state laws