The House of Representatives has approved legislation to once again temporarily extend eligibility for a federal COBRA health insurance premium subsidy program.

H.R. 4851, proposed by Ways and Means Committee Chairman Sander Levin, D-Mich., and approved by the House on March 17, would extend eligibility beyond March 31 to employees involuntarily terminated between April 1 and April 30.

Individuals eligible for the subsidy program pay only 35 percent of their COBRA premiums; the remaining 65 percent is reimbursed to the coverage provider through a tax credit. The premium reduction applies to periods of health coverage that began on or after February 17, 2009 and lasts for up to 15 months.

Continue Reading for Free

Register and gain access to:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Broker Regulation
Enrollment