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 March 2009 - Spectra Insight - Economic Stimulus Bill Changes Your COBRA Administration      news archive >>

 

Economic Stimulus Bill Changes Your COBRA Administration

 
COBRA coverage changed with the new American Recovery and Reinvestment Act (ARRA) of 2009, which the president signed into law on February 17, 2009.

Title III of the ARRA states that eligible unemployed workers paying for their own health insurance through the federal COBRA program will now benefit from a 65% federal subsidy for their monthly insurance premiums for up to nine months. The employer will initially pay this portion of the premium and then recover the subsidy through their employee tax withholdings.

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