Warning About Health Questions
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| February 17, 2009 11:56 PM |
Health insurance:
Many workers who lose their health insurance when they lose their jobs will find it cheaper to keep that coverage while they look for work.
Right now, most people working for medium and large employers can continue their coverage for 18 months under the COBRA program when they lose their job. It's expensive, often over $1,000 a month, because they pay the share of premiums once covered by their employer as well as their own share from the old group plan.
Under the stimulus package, the government will pick up 65 percent of the total cost of that premium for the first nine months.
Lawmakers initially proposed to help workers from small companies, too, who don't generally qualify for COBRA coverage. But that fell through. The idea was to have Washington pay to extend Medicaid to them.
COBRA applies to group plans at companies employing at least 20 people. The subsidies will be offered to those who lost their jobs from Sept. 1 to the end of this year.
Those who were put out of work after September but didn't elect to have COBRA coverage at the time will have 60 days to sign up.
The plan offers $87 billion to help states administer Medicaid. That could slow or reverse some of the steps states have taken to cut the program.
There is another more thorough description of the COBRA impacts in Workforce Management online at:
http://www.workforce.com/section/00/article/26/14/01.php
Source(s):
http://news.yahoo.com/s/ap/20090214/ap_on_go_co/stimulus_stakes_who_gets_wh...
http://www.workforce.com/section/00/article/26/14/01.php
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Other Answers (2)
February 17, 2009 11:42 PM
If you lose your job this year and choose to take Cobra coverage to keep your family covered on health care, the government will now subsidize up to 65 percent of the costs of your premium for nine months. If you lost your job any time after Sept. 1 and elected not to receive Cobra coverage but now want it, you can contact your former employer and it should be available. Help on Cobra premiums will be available to any worker laid off from Sept. 1, 2008, to Dec. 31, 2009.
Source(s):
http://www.kansascity.com/440/story/1039103.html
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February 18, 2009 01:38 AM
It helps reduce the amount people have to pay for the COBRA premium. As of Friday everything for COBRA has not gone through yet. They said they would send more details as they get them.
Source(s):
My wife works with the industry and she got a letter. LOL.
http://www.cobra-health-insurance.ws/chiw/index.php?wsc=19&adv=1&pt...
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