COBRA subsidy extended again

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in Small Business Tax

On March 2, President Obama signed stopgap legislation extending eligibility under the COBRA subsidy program for an extra month. The 65% subsidy now covers qualified workers “involuntarily terminated” from their jobs through March 31, 2010. Prior to this second extension, the program was available to workers who were laid off or fired through Feb. 28, 2010.

The new measure also allows employees to benefit from the subsidy if they first lost group coverage due to a reduction in hours and then were terminated after enactment of the legislation.

Note: Legislation just introduced in Congress (the “American Workers, State and Business Relief Act”) would extend the COBRA subsidy program through the end of the year.

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