COBRA stands for the Consolidated Omnibus Budget Reconciliation Act of 1985, federal legislation that allows you – if you work for an employer group of 20 or more employees – to continue to purchase health insurance for up to 18 months if you lose your job or your employer-sponsored coverage otherwise ends. (Coverage can continue for up to 36 months in some situations.)| healthinsurance.org
Balance billing occurs when providers bill a patient for the difference between the amount they charge and the amount that the patient's insurance approves. The negotiated rate that insurers pay providers is almost always less than the provider's "retail price." Depending on the circumstances, out-of-network providers can bill the patient for the difference, or balance; this is called balance billing. Federal rules protect patients from "surprise" balance billing as of 2022.| healthinsurance.org
The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that sets minimum standards for most voluntarily established retirement and health plans in private industry to provide protection for individuals in these plans.| DOL
