On Monday, December 21, 2009, President Obama signed a measure to extend a federal subsidy for continued health-insurance coverage for involuntarily terminated workers under employer group plans. You can learn about the changes by reading “Senate Passes the COBRA Subsidy Extension” by our partners at Davis Brown. Click here to read the article.
The Department of Labor has also put together a fact sheet to help you understand the changes. You’ll find information on the following topics:
- What is COBRA?
- Changes regarding COBRA Continuation Coverage Under ARRA, as amended by the 2010 DOD Act
- Eligibility for the Premium Reduction
- Period of Coverage
- Notice Requirements
Click here read “Fact Sheet: COBRA Premium Reduction”.
The Department of Labor has also issued a news release that may help you better understand how individuals who timed out can take advantage of the extension. Click here to read the statement by Phyllis C. Borzia on the COBRA subsidy extension.
The Department of Labor expects to post additional fact sheets in the coming days. We will update you with more information as it becomes available.