The Law of Unintended Consequences for Job Seekers: Healthcare Reform and Pre-Existing Conditions
The PPACA Healthcare Reform Act abolished denial of coverage or exclusion of pre-existing conditions for medical coverage of children age 18 or under. As a result, insurance companies in Texas stopped issuing policies for children 18 or under unless there is at least one adult on the policy as well. Up until the Healthcare Reform Act became law, a parent could purchase an individual policy for a healthy child for a much lower premium than if the... [Read More...]
FAQ: When Should I Sign Up For COBRA, Part 3
One of the most often asked I get during COBRABusters workshops is if someone should wait until close to the 60 day deadline to make a decistion about COBRA coverage. There are three important reasons why you shouldn’t delay. Each reason is an opportunity cost. This post deals with the third and most costly reason and opportunity cost. If you have not already done so, you can read here the posts about the first reason here and the second... [Read More...]
FAQ: When Should I Sign Up For COBRA, Part 2
One of the most often asked I get during COBRABusters workshops is if someone should wait until close to the 60 day deadline to make a decistion about COBRA coverage. There are three important reasons why you shouldn’t delay. Each reason is an opportunity cost. This post deals with the second costly reason and opportunity cost. If you did not read the post about the first reason, you can find it here. The second reason is this: Chances... [Read More...]
FAQ: When Should I Sign Up For COBRA, Part 1
One of the most often asked I get during COBRABusters workshops is if someone should wait until close to the 60 day deadline to make a decistion about COBRA coverage. There are three important reasons why you shouldn’t delay. Each reason is an opportunity cost. This post deals with the first and least costly reason and opportunity cost. Technically, if your coverage expires on your termination date, you already have a gap in coverage from... [Read More...]
The End of COBRA Premium Subsidy Extension and Lessons Learned
On Friday, June 28th, the House of Representatives approved American Jobs and Closing Tax Loopholes Act (H.R. 4213). This legislation requires 401(k) fee disclosures, provide relief for pension funds and extend unemployment benefits. However, noticeably absent from the was a planned extension of the COBRA premium subsidy, which was omitted in order to gain enough votes for passage. The Bill passed, 215-204, before the House recessed... [Read More...]
Yet Another COBRA Subsidy Extension…
Thursday, April 22nd, President Obama signed into law the third or fourth extension (I’ve lost count) to the COBRA Premiums Subsidy, the Continuing Extension Act of 2010 (H.R. 4851), which also extended the federal unemployment benefits and the eligibility date to the COBRA Premium Subsidy Program. Under the signed bill, the 65% subsidy for COBRA premiums is now extended for individuals who lost their job from April 1, 2010, through... [Read More...]
Another Thirty Day COBRA Subsidy Extension Signed Into Law Helps Those Involuntarily Terminated Through End of March 2010
This week President Obama signed the Temporary Extension Act of 2010, after the Senate voted to pass the measure. The Act, generally referred to as an extension of unemployment benefits, also extends eligibility for the 65% COBRA subsidy to individuals who have involuntary terminations through March 31, 2010. Eligibility had expired for terminations after February 28, 2010. The law is retroactive, so that persons who were involuntarily terminated... [Read More...]
What Texas Businesses Must Know about the ARRA COBRA Premium Subsidy
The American Recovery and Reinvestment Act of 2009 (ARRA) was signed into law on February 17, 2009 by President Obama. The ARRA allowed for a 65% government subsidy of COBRA premiums for American workers involuntarily terminated from employment. This COBRA subsidy was extended on December 19, 2009 to continue assistance for struggling American workers. Employers are required to cover the 65% of COBRA premiums up front as assistance for their former... [Read More...]
COBRA Subsidy Bill Expires Again; New COBRA Subsidy Bill Extension Approval Coming Soon…
Congress let the Federal COBRA Subsidy expire at the end of February. New legislation to extend the subsidy retroactive to March 1st is expected to be passed and enacted into law within the next two weeks. Federal unemployment assistance also expired February 28th but an extension is expected to be included in the same legislation that will extend the COBRA subsidy. Combined, this legislation has a price tag of $11+ billion. This will... [Read More...]
Deadline nears on COBRA Premium Subsidy
The extended two-month eligibility period for the premium subsidy program is set to end this Sunday, Feb. 28, 2010. This means that workers involuntarily terminated starting March 1 will not be eligible to receive the 65 percent premium reduction of COBRA or state continuation benefits. Many believe there is Congressional support for extending the premium subsidy eligibility period again, and expect consideration of the issue in coming weeks. My hope... [Read More...]
