RadioBDC Logo
Clocks | Coldplay Listen Live
 
 
< Back to front page Text size +

COBRA Benefits Extended

Posted by Andrew Chan  December 29, 2009 10:00 AM

E-mail this article

Invalid E-mail address
Invalid E-mail address

Sending your article

On Dec. 19, President Obama signed the Department of Defense Appropriations Act, 2010 (2010 DOD Act) which included an amendment of the COBRA subsidy provisions of the American Recovery and Reinvestment Act of 2009 (ARRA).

Prior to its amendment, the COBRA subsidy provided a 65 percent reduction of COBRA health insurance premiums to employees who lost their jobs between Sept. 1, 2008 and Dec. 31, 2009. The original subsidy was available for a maximum of 9 months beginning on Feb. 17, 2009. The amended subsidy extends the 9 month benefit period to 15 months and extends the eligibility period until Feb. 28, 2010. This means that employees who lose their health insurance as a result of their job lose between Sept. 1, 2008 and Feb. 28, 2010 will be available for 15 months of coverage.

Those who have exhausted the original 9 months of benefits from the subsidy before this amendment was enacted will be able to continue to receive the subsidy for the additional 6 month period of the amendment. Contact your health insurance provider for more information about the extension and the steps you will need to take to receive the benefit.

For more information on the COBRA subsidy, visit the Department of Labor?s web site at www.dol.gov/cobra or contact an EBSA Benefits Advisor toll-free at 1-866-444-3272.
This blog is not written or edited by Boston.com or the Boston Globe.
The author is solely responsible for the content.

E-mail this article

Invalid E-mail address
Invalid E-mail address

Sending your article

ABOUT MANAGING YOUR MONEY
Local finance professionals share insights and advice on issues such as budgeting, managing debt, and retirement planning.

About the contributors

D. Abraham Ringer is a CERTIFIED FINANCIAL PLANNER practitioner and a Financial Adviser with Morgan Stanley Global Wealth Management in Boston. He is registered in MA, NH, NY and several other states to which his articles are directed. For more information please visit www.morganstanleyfa.com/ringer
Financial Planning Association™ of Massachusetts has 900 members who specialize in the financial planning process. Many of its members engage in philanthropic pro bono work in their communities, recommend legislation, elevate public awareness, promote financial literacy, and advocate for sound economic and tax policies.
Odysseas Papadimitriou is the founder of CardHub.com, a credit card and gift card marketplace, and WalletHub.com, a personal finance site. He has more than 13 years of experience in the personal finance industry, and previously served as senior director at Capital One.

E-mail your question

Name:
E-mail:
Your question/comment:
archives