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COBRA Complications Arise From Economic Stimulus Law

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On February 17, 2009, President Obama signed the American Recovery and Reinvestment Act of 2009 (ARRA). A centerpiece of this law is a 65% subsidy for employees who are involuntarily terminated between September 1, 2008, and December 31, 2009, and who are eligible to continue health care coverage under the Consolidated Omnibus Budget Reconciliation Act (COBRA). As under regular COBRA law, qualified beneficiaries have an independent right to elect COBRA, and the subsidy will apply to them, as well.

 

Subsidy Details  

Under the 2009 American Recovery and Reinvestment Act, also called the economic stimulus law, employees who are involuntarily terminated between September 1, 2008, and December 31, 2009, and who are otherwise eligible to elect COBRA, may qualify for a 65% premium subsidy for up to nine months.  Just like under regular COBRA law, employees' qualified beneficiaries (QBs) have an independent right...(register to read more)

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