Economic Stimulus Bill Expands COBRA
As part of the American Recovery and Reinvestment Act, the federal government will subsidize 65 percent of the COBRA costs for employees who are involuntarily terminated from employment between Sept. 1, 2008, and Dec. 31, 2009. The former employee would be responsible for the remaining 35 percent of premium. Employers and insurance companies will administer the subsidy, which imposes new administrative and notice requirements on business owners.
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