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TeachMeFinance.com - explain Consolidated Omnibus Budget Reconciliation Act (Cobra)- Consolidated Omnibus Budget Reconciliation Act (Cobra)- The term 'Consolidated Omnibus Budget Reconciliation Act (Cobra)- ' as it applies to the area of Medicare in the United States can be defined as ' A law that lets some people keep their employer group health plan coverage for a period of time after: the death of your spouse, losing your job, having your working hours reduced, leaving your job voluntarily, or getting a divorce. You may have to pay both your share and the employer's share of the premium. Generally, you also have to pay an administrative fee'. Previous 5 Terms: Considered planted Consistency Consolidated Farm and Rural Development Act of 1961 Consolidated Ice Cover Consolidated Metropolitan Statistical Area (CMSA) Next 5 Terms: Consolidation Consolidation Consolidation curve Consolidation grouting Consolidometer About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.