Benefits March 17, 2010
House Passes another COBRA Subsidy Extension
March 17, 2010 (PLANSPONSOR.com) – The COBRA premium subsidy would be offered for another month under a new bill passed by the U.S. House of Representatives.
Reported by Rebecca Moore
Business Insurance reports that under H.R. 4851, the 15-month, 65% federal premium subsidy would be extended to employees involuntarily terminated from April 1 through April 30. Without an extension, employees laid off after March 31 would not be eligible for the subsidy (seeObama Signs COBRA Subsidy Extension).
The U.S. Senate has approved a longer extension to enable employees laid off through the end of the year to receive the subsidy (see Senate Passes COBRA Subsidy Extension), but the House has yet to take up that measure because of funding concerns about certain provisions in the bill, observers say, according to Business Insurance.« Europe's Largest Pension Fund Sues BofA over Merrill Lynch Deal