Medicare Glossary

COBRA Continuation Coverage

A federal law allowing you to temporarily keep employer group health coverage after leaving a job, usually at your own full cost. COBRA is not considered creditable coverage for delaying Medicare enrollment, so missing your Medicare window while on COBRA can trigger a penalty.

Also known as: COBRA

Creditable Coverage

Health or prescription drug coverage that is at least as good as Medicare's standard coverage. If you have creditable coverage when you turn 65, you may be able to delay enrolling in Medicare without facing a late enrollment penalty.