32 COBRA Continuation of benefits under COBRA Qualified Beneficiaries shall have all continuation rights required by the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) for group health plan benefits offered under Welfare Program s . To the extent a Welfare Program offering health benefits does not specify COBRA Continuation Coverage rights in accordance with Code Section 4980B, the Plan shall be administered in accordance with Code Section 4980B and 29 CFR Part 2590.606 - 1 through 2590.606 - 4, with respect to the final COBRA notice rules and regulations for group health plans. In addition, the Plan Administrator shall adopt such policies and provide such forms, as it deems advisable to implement the rights contemplated by this Section. Other Options You may have other options available to you when you lose group health plan coverage. For example, you may be eligible to buy an individual plan through the Health Insurance Marketplace. By enrolling in coverage through the Marketplace, you may qualify for lower costs on your monthly premiums and lower out - of - pocket costs. Additionally, y ou may qualify for a 30 - day special enrollment period for another group health plan for which you are eligible (such as a spouse’s plan), even if that plan generally doesn’t accept late enrollees. Election of COBRA COBRA Continuation Coverage for Terminated Participants In the event a Covered Employee, Qualified Dependent or Qualified Beneficiary experiences a Qualifying Event, the Plan Administrator shall provide notice of COBRA Continuation Coverage that shall inform such individual of their rights and obligations with respect to COBRA Continuation Coverage under the Plan . A Qualified Beneficiary who is a Covered Employee may elect COBRA Continuation Coverage, at their own expense, if their participation under the Plan would terminate as a result of either of the following Qualifying Events: a. termination of employment (other than for gross misconduct); or b. reduction of hours of employment with the Employer. COBRA Continuation Coverage for Qualifying Dependent A Qualified Beneficiary who is a Qualifying Dependent of a Covered Employee may elect COBRA Continuation Coverage, at their own expense : • Qualifying Events for Spouses o Voluntary or involuntary termination of the covered employee's employment for any reason other than gross misconduct. o Reduction in the hours worked by the covered employee below plan eligibility requirements.