What is the amount of the COBRA premium subsidy?
A qualifyingindividual pays 35% of a COBRA premium and 65% of the premium is subsidized by the employer. The subsidy phases out for taxpayers with modified adjusted gross income exceeding $145,000 (or $290,000 for joint filers) and is reduced proportionately for taxpayers with an adjusted gross income between $125,000 and $145,000 ($250,000 and $290,000 for joint filers).
Related Questions
- Are There Potential Penalties for Plan Sponsors that Fail to Provide the New COBRA Premium Subsidy Notice?
- How is the COBRA subsidy calculated if the employer already more generously subsidizes the COBRA premium?
- Is the COBRA Premium Reduction (Subsidy) still available to individuals who have lost their jobs?
