Tuesday, December 1, 2009

When Does the COBRA subsidy expire?

If you are one of the millions of unemployed workers that have taken advantage of the 65% federal government subsidy for your COBRA health insurance coverage, you may be wondering when that benefit expires.

The Detroit Free Press is reporting that the subsidy lasts 9 months---so for millions of people who signed up for the coverage in March 2009, they are seeing their health insurance coverage rates rapidly increase. These people will be forced to either pay the higher COBRA rates or shop around for online health insurance quotes.

Even though, congress has extended unemployment insurance benefits to up to 99 weeks, I am not sure if Obama will extend the COBRA subsidy.

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