In the past, laid-off employees who wanted to continue with their employer's group health insurance plan could do so with COBRA — but they had to pay 100 percent of the premium. The new stimulus package, however, provides some relief to the newly unemployed and their families. It includes a provision that subsidizes 65 percent of a laid-off worker's COBRA health insurance premium.
The coverage applies to workers laid-off between Sept. 1, 2008 and Dec. 31, 2009 and lasts for nine months. The subsidy begins to phase out at annual income levels of $125,000 for individuals and $250,000 for couples.
This new COBRA health care option gives the unemployed a less expensive health insurance option. Read more on the COBRA Health Care Subsidy.
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2 comments:
That subsidy should hopefully apply some relief for these pepole that can't afford their Cobra benefits. I am speaking with more and more people everyday that cannot afford Cobra. They have no where to turn if they have health issues...unisurable people then really only have the oprion of their State Government Policy like a California MR MIP Plan. ...Still those rate are frightenly high.
J.C. Lewis
Thanks for stopping by Jay! Unfortunately large numbers of these folks don't get preventative care and they end up in the ER where the rest of us pay for it one way or another. What's needed is Universal or a single payer system or let anyone who wants to opt into medicare.
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