Consolidated Omnibus Budget Reconciliation Act continuation coverage
The right to keep your former employer's group health plan, usually for up to 18 months after leaving, by paying up to 102% of the full premium yourself.
It applies to employers with 20 or more employees; many states have similar rules for smaller employers. Certain events extend coverage for dependents to 36 months.
COBRA is not coverage based on current employment. It does not delay the Medicare Part B enrollment deadline or protect you from the late enrollment penalty.