07 Jan COBRA Premium Subsidy Eligibility Period Extended
As discussed in a recent post regarding the government’s COBRA program, the American Recovery and Reinvestment Act of 2009 made certain individuals terminated in the period beginning Sept. 1, 2008 and ending December 31, 2009 eligible to receive a government financed subsidy equal to 65% of the COBRA continuation premium. Such program was initiated in response to the recession and a growing population of individuals without health-care coverage. For participating individuals the subsidy can continue for a maximum period of 15 months. With the eligibility window set to expire last week, Assistant Secretary of Labor Phyllis C. Borzi announced that the government had decided to extend the eligibility window for two additional months, thus allowing assistance-eligible-individuals terminated after December 31, 2009 and before February 28, 2010, to participate in the subsidy program.