Been Laid Off and Getting COBRA Benefits? New Stimulus Bill May Be Able to Help
The new stimulus has now been signed into law by President Barak Obama today. It is the largest rescue plan ever in our nation's history - $787 billion dollar package.
If you've lost your job this year and have decided to take Cobra insurance coverage, the government will subsidize up to 65% of the costs of your premium for nine months. If you lost your job between Sept. 1, 2008 - Dec. 31, 2009 you will only be required to pay 35% of your COBRA premium.
Those who were laid off since last September who had initially declined COBRA would have 60 days to elect it, and those who were laid off since last September who had initially declined COBRA would have 60 days to elect it.
This subsidy is not available to workers whose income exceeds $125,000 for individuals and $250,000 for families.
Bookmark/Search this post with:
- MetroDealz's blog
- Add new comment
- 1 point
Comments
Millions of Americans who lost their jobs prior to September 1, 2008 could not afford Cobra. Millions more elected Cobra but have now depleted their resources and can not continue on. Still millions more with pre-existing conditions who rely on cobra to bridge the 18 month gap between their former employers insurance and their state's high risk insurance pools are struggling to pay their premiums every month to prevent being locked out of insurance permanently.
Please join us in asking Congress and the Obama administration to eliminate the arbitrary September 1, 2008 cut-off date and 9 month limitation of assistance by signing our petition at http://www.ipetitions.com/petition/cobrareform and telling your friends about our efforts.