|
Greetings!
MacCorkle Insurance Service is pleased to provide you with this update - we hope you find the presented topic both interesting and informative. Please look for future editions providing the HR professional with compliance and legislative briefs throughout the year.
|
|
COBRA Premium Subsidy Expires
The American Recovery and Reinvestment Act of 2009 (ARRA) provided a temporary subsidy for the cost of COBRA coverage for certain individuals who were involuntarily terminated from employment. Initially available to individuals whose employment was involuntarily terminated on or before Dec. 31, 2009, the COBRA premium subsidy was extended and expanded several times during the economic recession. The last extension, the Continuing Extension Act of 2010, extended  the eligibility period through May 31, 2010. The subsidy coverage period was originally nine months, but was extended to 15 months from the date of the qualifying event.
The 15-month COBRA premium subsidy for the last group of eligible individuals, those who began receiving the subsidy in May 2010, will expire on Aug. 31, 2011. To date, Congress has not taken action to extend the subsidy further.
Click here to read entire brief... |
