Qualifying event

In accounting, qualifying event means the event that makes COBRABenefitsCOBRA continuation coverageThe federal right of an employee and family who lose group health coverage through a qualifying event to keep it, at up to 102% of its cost, for 18 months (termination or reduced hours) or 36 (most other events). Applies once the employer had 20 or more employees on more than half its business days the year before continuation available — for an employee, termination for any reason other than gross misconduct, or a reduction in hours; for a spouse or child, also divorce or legal separation, the employee's death, and a child's loss of dependent status. The employer has 30 days to tell the plan of a termination or reduced hours.