insurance

What is continuation?

 

What is continuation?

The Bankrate.com financial term of the day is: "continuation."

Losing your job is bad enough. If you were to lose your health insurance, too, that would be a kick while you're already down. Something in the law called continuation can keep that from happening. It allows you to maintain the group coverage from your job for a limited time and under certain conditions. You might have to pay the full freight yourself -- but at least you'll still have the same health insurance.

When you get laid off, in many cases you won't necessarily find yourself uninsured as well as unemployed thanks to continuation, which is provided for by the legislation known as COBRA, the Consolidated Omnibus Budget Reconciliation Act.

To shop for insurance to fit your family's needs, visit the Insurance section at Bankrate.com.

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