The Consolidated Omnibus Budget Reconciliation Act, or COBRA, is a federal law that allows employees and their families to continue their health insurance coverage after a qualifying event, such as job loss or a reduction in hours. COBRA coverage can be expensive, but there are premium reduction credits available to help make it more affordable.
To apply for a COBRA premium reduction credit, you must meet certain eligibility requirements. You must be a qualified beneficiary under COBRA, and you must have lost your job or had your hours reduced involuntarily. You must also have an income that is below a certain level. If you meet these requirements, you can apply for a premium reduction credit by completing a form and submitting it to your former employer.