Friday, January 8, 2010

Federal Cobra Subsidy Extended 6 more Months

Federal subsidy program for COBRA extended

Thursday, January 7, 2010 Insurance Commissioner Wayne Goodwin announced Tuesday that the federal subsidy program for COBRA coverage for involuntarily terminated workers has been extended.

The extension allows the subsidy to remain in effect for an additional six months, for a total of 15 months worth of subsidy payments. The subsidy pays for 65 percent of the premium for both COBRA and mini-COBRA (see below for mini-COBRA definition) recipients who are involuntarily terminated from their jobs between Sept. 1, 2008 to Feb. 28, 2010. Workers are responsible for paying the remaining 35 percent.

Read the rest of the story at The Snap Online.

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