Company going up for sale. Is COBRA still an option?

US DOL Info#993366 Q: My husband was recently laid off, as were many other employees. His company is going up for sale very shortly. His company has its ex employees paying for medical on a weekly basis for now, and has said after the end of June Cobra is possible. If there is no longer a company, can there be Cobra coverage? US DOL Info#993366 A: Generally, if there is no group health plan to offer you, COBRA is not an option. If there is going to be a Company buyout, it can be complicated in relation to COBRA. If you no longer work for the company, than COBRA should be an option for you. The question would be which party is responsible for offering you the continuation. Since buyouts are so complex, you may want to contact the employer to find out specifics for your situation.

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