Q:My question is this: If an employer terminates a policy for whatever reason--Are employees eligible for cobra with the existing employer paying 65% and employee paying 35%---and then what happens if the company is sold --does the new owner have to pick up where the old owner left off--ex. paying the 65% providing the new owner does not offer a health plan
A:To be eligible for the reduction you have to be involuntarily terminated and not be eligible for Medicare or a spouse insurance as well as if you get a new job that offers benefits, you would not be eligible for the reduction.If the company is sold and a new insurance carrier takes over you may still be able to transfer your coverage to the new carrier, its up to them if they take you on.You would need to speak with your previous employer to verify your eligibility for the reduction.
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