|In February and October 2009, the Quatrini Rafferty blog authored posts detailing COBRA assistance through the American Recovery and Reinvestment Act of 2009 (aka: Stimulus Bill.) This is intended as a follow-up. |
The following article was posted on the U.S. Department of Labor's website:
The American Recovery and Reinvestment Act of 2009 (ARRA), as amended on December 19, 2009 by the Department of Defense Appropriations Act, 2010 (2010 DOD Act) provides for premium reductions for health benefits under the Consolidated Omnibus Budget Reconciliation Act of 1985, commonly called COBRA.
Eligible individuals pay only 35 percent of their COBRA premiums and the remaining 65 percent is reimbursed to the coverage provider through a tax credit.
To qualify, individuals must experience a COBRA qualifying event that is the involuntary termination of a covered employee's employment. The involuntary termination must occur during the period that began September 1, 2008 and ends on February 28, 2010. The premium reduction applies to periods of health coverage that began on or after February 17, 2009 and lasts for up to 15 months.
For more information, visit the Department of Labor's website:http://www.dol.gov/ebsa/cobra.html