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TOC Alert: COBRA subsidy expansion signed by the President
12-29-2009 |
COBRA subsidy expansion signed by the President
Legislation that will expand the COBRA premium subsidy has been signed by the President and is immediately in effect (HR 3326). Under the new law, eligibility for the COBRA subsidy is extended to include involuntary terminations that occur up through February 28, 2010 and the subsidy is now available for up to 15 months. Individuals who dropped COBRA coverage in December because their nine months of subsidy expired will be able to retroactively resume coverage as long as they pay their subsidized premiums by February 17, 2010, or if later, by 30 days after the employer gives the new required notice.
For more details on the new law, including new notice requirements, see the e-mail Alert we sent out yesterday and check out TOC’s Fact Sheet, “COBRA Provisions of the American Recovery and Reinvestment Act of 2009” (TOC 6015).
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