Common use of What is COBRA continuation coverage? Clause in Contracts

What is COBRA continuation coverage?. i. COBRA continuation coverage is a continuation of Plan coverage when it would otherwise end because of a life event. This is also called a “qualifying event.” Specific qualifying events are listed later in this notice. After a qualifying event, COBRA continuation coverage must be offered to each person who is a “qualified beneficiary.” You, your spouse, and your dependent children could become qualified beneficiaries if coverage under the Plan is lost because of the qualifying event. Under the Plan, qualified beneficiaries who elect COBRA continuation coverage must pay the entire cost for COBRA continuation coverage, plus a 2% administrative fee for the duration of the COBRA continuation coverage.