How Do You Get The ARRA Stimulus Plan Reductions For COBRA Insurance Premiums?
According to The Consolidated Omnibus Budget Reconciliation Act (COBRA), individuals who are covered under employer group health insurance plans are eligible to extend coverage if they leave their jobs, are laid off or lose insurance coverage under certain other conditions. This temporary health insurance coverage costs the former employee the entire premium (employer and employee portions) plus an additional 2% administrative fee for up to 18 months of extended insurance coverage. Under the Stimulus Plan (The American Recovery and Reinvestment Act of 2009, ARRA) eligible participants will only have to pay 35% of their COBRA insurance premium. Use these steps to determine if you qualify for the Stimulus Plan reductions in COBRA insurance premiums. You must be currently making COBRA payments based on involuntary loss of employment (no gross misconduct) on or after September 1, 2008 to be eligible for group health insurance premium reductions. You can only recover the 65% premium reducti
