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COBRA Subsidy Extended to May 31 The American Recovery and Reinvestment Act (ARRA)
established a 65% federal subsidy to assist employees who lost their
jobs due to the recession pay the cost of their COBRA health insurance
premiums. This subsidy will help workers continue the same health
insurance coverage for themselves and their families that they had prior
to losing their jobs.
The Continuing Extension Act of
2010,
which was enacted on April 15, reinstated the ARRA COBRA subsidy which
had expired on March 31, 2010. As a result, workers who are
involuntarily terminated from employment between September 1, 2008, and
May 31, 2010, may be eligible for a 65% subsidy of their COBRA premiums
for a period of up to 15 months. |
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to ISAC Update. |
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