Final answer:
COBRA coverage typically lasts for 18 months but can be extended up to 36 months under certain conditions. It is part of wider health insurance reforms to give Americans more security concerning their healthcare.
Step-by-step explanation:
Duration of COBRA Coverage
COBRA, which stands for the Consolidated Omnibus Budget Reconciliation Act, ensures that individuals who lose their job-based health coverage can continue to maintain coverage for a limited period. The duration of COBRA coverage typically lasts for 18 months but can extend up to 36 months under certain circumstances. Circumstances that may warrant an extension include disability, second qualifying events, or for certain beneficiaries. It is important to note that COBRA coverage requires individuals to pay the full premium, including the share the employer used to pay, plus a small administrative fee.
The availability of COBRA coverage is part of a broader attempt to provide health insurance to uninsured Americans. The law provides for Medicaid expansion, the establishment of state-based insurance purchasing organizations, and measures to protect individuals with preexisting conditions. Also, it extends the ability for young adults to stay on their parents' health insurance until the age of twenty-six.