COBRA stands for the Consolidated Omnibus Budget Reconciliation Act, which became law in 1986. COBRA gives you the right to choose to temporarily keep the group health insurance benefits that you would otherwise lose after you reduce your working hours, quit your job, or lose your job. It also lets family members choose to keep health insurance after your job loss or other qualifying event that would normally cause them to lose the coverage they have through your employer. COBRA applies to nearly all employers with 20 or more employees. 24HourFlex offers COBRA services for New Hires, COBRA Qualified Beneficiaries and Retiree Plans.