The Consolidated Omnibus Budget Reconciliation Act (COBRA) gives workers and their families who lose their health benefits the right to choose to continue group health benefits provided by their group health plan for a limited amount of time under certain circumstances such as job loss, reduction in the hours worked, the transition between jobs, death, divorce, and other life events.
Can I submit my COBRA policy for reimbursement with my ICHRA?
While having your COBRA policy may be a good option for you as you transition from your former employer's group health insurance policy, COBRA plans are not eligible for reimbursement with your ICHRA benefit. This is because the policy is considered a group policy and not an individual policy, which is a requirement when participating in an ICHRA. You will need to make sure and purchase a qualifying individual policy to participate in the ICHRA benefit.
Please see our article about Finding Insurance for a list of eligible policies.