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COBRA

Consolidated Omnibus Budget Reconciliation Act of 1985. Through this act employees are able to continue their employer-sponsored coverage for up to 18 months if they lose their job. The original legislation required individuals to pay full premiums to continue their coverage through COBRA. A temporary subsidy of 65% of the premium cost for the purchase of COBRA coverage for individuals who have lost their jobs between September 1, 2008 and December 31, 2009 was provided through The American Recovery and Reinvestment Act (ARRA).

Bronze Plan

The lowest actuarial level health plans available through the insurance exchanges, equal to a 60 percent actuarial value. Silver, Gold, and Platinum plans offer varying…