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Man handing over money The premium subsidy brings new notification and reporting requirements for HR professionals, as well as changes in claiming advanced payment of employer tax credits. (Photo: Shutterstock)

The American Rescue Plan Act of 2021 (ARPA), referred to as the third COVID stimulus package, took effect in March and extends support to employees through new COBRA premium credits. Assistance eligible individuals (AEIs) are entitled to 100% premium assistance under COBRA for a six-month period beginning April 1, 2021.

Related: IRS posts guidance for temporary COBRA premium subsidy program

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