This video explains the basics of COBRA (Consolidated Omnibus Budget Reconciliation Act) and its significance. Here are some key takeaways:

• COBRA, short for the "Consolidated Omnibus Budget Reconciliation Act," is often referred to as "continuation of coverage." It allows individuals who quit or are terminated from their job to stay on their employer's insurance plan for up to 18 or 36 months while they seek alternative insurance options.

• COBRA coverage can only be denied if the individual was terminated due to "Gross misconduct," a relatively rare circumstance.

• There are some important considerations with COBRA. Firstly, when enrolled in COBRA, the employer is no longer obligated to contribute to the monthly premium; the entire cost becomes the responsibility of the individual. Additionally, an administrative fee may be added to manage the healthcare plan.

• It's crucial to be aware of the 60-day window for choosing COBRA coverage; missing this window means you won't be able to join and will lose the opportunity for COBRA coverage.