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Federal COBRA Subsidy – Another 2 Month Extension April 23, 2010

Posted by solutionsinsuranceservices in Group Insurance, Health Insurance, Individual Insurance.
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President Obama has approved another two month extension for the 65% federal subsidy for health insurance premiums for those individuals who are involuntarily terminated from employment. COBRA, as a quick reminder, is what an individual can elect to participate in for their health insurance. Normally, the individual would pay the full rate for health insurance that is billed to the employer, plus a small administrative fee. With the federal subsidy, individuals only pay 35% of those rates, the federal goverment is paying the rest.

This round of extensions will cover anyone involuntarily terminated through May 31, 2010. There are talks of extending the subsidy through the end of the year, we just have to wait and see.

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