Stimulus Bill 2009

From SmartMedicalConsumer Wiki

How does stimulus bill impact your healthcare expenses?

If you loose your job and if you are eligible for COBRA, 65 percent of your COBRA premiums might be subsidized for up nine months.

This premium reduction also applies to health care continuation coverage that may be required by states for insurance policies sponsored by small employers (so called state mini-COBRAs) and public employees.

Contents 1 Who is eligible? 2 Who is not eligible? 3 Consolidated Omnibus Budget Reconciliation Act (COBRA) 4 External Links

[edit] Who is eligible?

• Employees laid off between September 1, 2008 and December 31, 2009.
• Employees who were laid off since September 2008, and who had initially declined COBRA will have 60 days to elect it.

[edit] Who is not eligible?

• Employees whose income in the year they would receive it exceeds $125,000 for individuals and $250,000 for families.

[edit] Consolidated Omnibus Budget Reconciliation Act (COBRA)

Note that COBRA health insurance coverage lasts in general for 18 months. The employee has to pay the full premium and a two percent administrative fee.

[edit] External Links

• Health Coverage for the Unemployed,Frequently Asked Questions on the COBRA Premium Reduction
• FAQs About COBRA Premium Reduction For Workers And Their Families