Consolidated Omnibus Budget Reconciliation Act

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Definition: Consolidated Omnibus Budget Reconciliation Act




Full Definition of Consolidated Omnibus Budget Reconciliation Act


A federal law requiring that employers offer employees — and their spouses and dependents — continuing insurance coverage if their work hours are cut or they lose their job for any reason other than gross misconduct. Courts are still in the process of determining the meaning of gross misconduct, but it’s clearly more serious than poor performance or judgment. COBRA also makes an ex-spouse and children eligible to receive group rate health insurance provided by the other ex-spouse’s employer for three years following a divorce.


Synonyms For Consolidated Omnibus Budget Reconciliation Act


COBRA

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Definition Sources


Definitions for Consolidated Omnibus Budget Reconciliation Act are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 22nd April, 2020 | 0 Views.