Consolidated Omnibus Budget Reconciliation Act (COBRA): A federal act which requires each group health plan to allow employees and certain dependents to continue their group coverage for a stated period of time following a qualifying event that causes the loss of group health coverage. Qualifying events include reduced work hours, death or divorce of a covered employee, and termination of employment.

 

Related Words

Consolidated Omnibus Budget Reconciliation Act (COBRA): A federal act which requires each group health plan to allow employees and certain dependents to continue their group coverage for a stated period of time following a qualifying event that c . . . View Full Definition

Employee Retirement Income Security Act (ERISA): A broad-reaching law that establishes the rights of pension plan participants, standards for the investment of pension plan assets, and requirements for the disclosure of plan provisions and funding.

Node Factor (F): A factor depending upon the longitude of the Moon's node which, when applied to the mean coefficient of a tidal constituent, will adapt the same to a particular year for which predictions ar . . . View Full Definition

Noncash Transactions: Investing and financing activities that do not affect cash: if significant, they are disclosed below the statement of cash flows or in the notes to the financial statements.