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Cobra Question
Old 06-16-2011, 08:00 AM   #1
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Cobra Question

asking for a still working friend............

If he leaves this company (XXX), enrolls in the Fed Cobra and then later in California COBRA), he believes he can get 18 mos. of Fed Cobra and then
18 more mos. of California Cobra

1) if the company keeps the XXX name and the company structure (likely his Cobra will continue).

But what happens if (either before or after he leaves XXX)
2) if the company name is changed to a new name of "ABCD"? will his Cobra still be valid whether or not a new insurance program is established or with the old program?
3) if XXX is being absorbed to become a division of a bigger company, and joins their insurance program, will his Cobra still be valid?

Does it matter if the parent larger company is foreign? Or can they parent larger company set up so that the acquiring company looks American?

If you have any links, that would also be useful.
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Old 06-16-2011, 08:22 AM   #2
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I think the only way out of COBRA is to file for bankruptcy. Name changes and being acquired is not going to do it, the original corporation and its obligations still exist.
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Old 06-16-2011, 08:49 AM   #3
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COBRA only gets terminated if the company stops offering health insurance benefits altogether.
Disclaimer - I am an independent insurance agent. If the above message contains insurance-related content, it is NOT intended as advice, and may not be accurate, applicable or sufficient depending on specific circumstances. Don't rely on it for any purpose. I do encourage you to consult an independent agent for insurance-related advice if you have a question that is specific in nature.
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Old 06-16-2011, 12:19 PM   #4
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Originally Posted by dgoldenz View Post
COBRA only gets terminated if the company stops offering health insurance benefits altogether.
Which could easily happen in 2014 if Obamacare survives. Sounds like plenty of companies are planning to exit health insurance plans at that time. On the other hand, that should also mean there will be COBRA-alternatives that will take you with pre-existing conditions, let you select the amount of coverage you'd like, and offer subsidies that should make it cheaper than COBRA. I hope.
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