7:02 AM
John Kumar
22 Mar
Posted by: Cobra Help Center in: COBRA SubsidyIf you're new here, you may want to subscribe to the RSS feed to keep up to date on all new posts and information. If your COBRA is within 63 days of expiring, your ability to get guaranteed major medical insurance is running out! Contact Cobra Help Center today!
The most recent stimulus package, signed into law on February 17, 2009, includes a section known as the COBRA Subsidy. This in fact is a subsidy offered through the Department of Labor for all those who could have or did become eligible for COBRA between Sept. 1, 2008, and Dec. 31, 2009. So if you lost your job between these two dates, you are eligible for this subsidy.
The subsidy covers the first nine months of your COBRA premiums at 65%. This means that for every 100 dollars of premium you would have payed, you are only required to send 35 dollars of that 100 dollars premium to your former employer or COBRA administrator.
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