Small Business Reading Room


Monday, April 26, 2010

HEALTH COVERAGE ASSISTANCE PROGRAM

Every now and then you will hear someone you know gets laid off or terminated from work. This will give you information concerning your rights and what you have to do to continue health coverage for you and your family.
President Obama signed the American Recovery and Reinvestment Act (ARRA) on February 17,2009 which has been amended twice on Dec. 19,2009 and on March 02,2010. These laws give
"Assistance Eligible Individuals" the right to pay reduced COBRA premiums for periods of coverage beginning on or after Feb. 17,2009 and can last up to 15 months.
To be considered an "Assistance Eligible Individual and get reduced premiums of 35% of the COBRA premium due to the plan you:
-Must have a continuation coverage election opportunity related to an involuntary termination of employment that occurred at any time from Sept. 01, 2008 through March 31,2010.
-Must elect the coverage
-Must not be eligible for Medicare
-Must not be eligible for coverage under any other group health plan, such as a plan sponsored by a successor employer or a spouse's employer.
For more information, you can go to www.dol.gov/COBRA
1 comments


1 Comments:

Here's some additional news on Cobra extensions:

COBRA premium subsidy extended for third time

By Blogger Russell, at 4:16 PM  

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