COBRA Premium Reduction Fact Sheet

 Updated COBRA Premium Reduction Fact Sheet posted.

Document Excerpt

The American Recovery and Reinvestment Act of 2009 (ARRA), as amended, provides for premium reductions for health benefits under the Consolidated Omnibus Budget Reconciliation Act of 1985, commonly called COBRA. The premium assistance is also available for continuation coverage under certain State laws. “Assistance Eligible Individuals” 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.

Link http://www.dol.gov/ebsa/newsroom/fsCOBRApremiumreduction.html

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