Word: cobras
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Senator Sherrod Brown, the Ohio Democrat who authored the COBRA Subsidy Extension and Enhancement Act with Pennsylvania's Senator Bob Casey, also a Democrat, says the legislation will help the "many middle class families struggling to get by." Workers who were involuntarily terminated from their jobs between September 1, 2008 and Dec. 31, 2009 are eligible for the subsidy that helps individuals and families continue on employer-sponsored health insurance. The new legislation, part of the $636.3 billion fiscal year 2010 defense spending bill, extends the subsidy from nine to 15 months and opens the program to workers who will...
...have suffered most from the mistakes of others should not have to decide between trying to meet an enormous expense or going without health care." With nearly 15 million Americans looking for work, Sestak said the health care bills being debated by Congress may eliminate the need for COBRA, but that those provisions, if included in the final bill that reaches President Obama's desk, may not take effect until...
...late Senator Edward Kennedy's major accomplishments in the health care field, COBRA (the Consolidated Omnibus Budget Reconciliation Act of 1986) enables discharged workers to stay on their employer's group health plan for up to 18 months. Unlike the Family and Medical Leave Act (FMLA), COBRA does not require the employer to pay the cost of providing continuing coverage. Instead, it allows employees and their dependents to maintain coverage at their own expense by paying the full price of the premium plus an administration fee. The Joint Committee on Taxation, a non-partisan group focused on government finance, estimates...
...with health care premiums skyrocketing the past two decades, many unemployed workers cannot afford COBRA. Across the 50 states, the average unsubsidized monthly COBRA premium of $1,111 gobbles up 83% of the average unemployment check of $1,333, according to a December report by Families USA. In nine states, the average COBRA premium exceeds the average unemployment benefit. In Mississippi, for example, the average unsubsidized COBRA premium is $1,027, while the average monthly unemployment check is $839. In 2009, the annual cost of the average health care plan in the United States was $13,375 for a family...
...Seattle, Washington, Natasha and Andrew Freidus have two small children, ages two years and four months. Andrew lost his job in the renewable energy field and the couple went on COBRA coverage, which costs $540 with the subsidy compared the full cost of $1,506. Andrew found a job with a start-up in the renewable industry in June, but the company cannot yet afford to offer health care so the couple has continued with COBRA. Natasha says she is very happy about the COBRA subsidy extension, not only because of the cost savings, but because this means...