Tuesday, February 09, 2010

COBRA/ARRA Extension Update

We'd be remiss if we failed to remind folks that the famed COBRA/ARRA Subsidy has been extended (along with more and more folks' status as unemployed), The good news for those affected is that "[e]ligibility for the subsidy now runs through Feb. 28 ... and the duration of the subsidy can be up to 15 months. For state continuation, the length of the subsidy period depends on a particular state’s current continuation legislation. "

That last refers to states with so-called "mini-COBRA" regs.

There are, of course, a lot of reasons to stay on COBRA when one's (former) employer is footing most of the bill; still, if one is healthy, it's usually best to get off of such a plan as quickly as possible (again, taking the subsidy into account). It's a shame that there's no mechanism to, well, pay folks to get their own plans.

Unless I'm missing something?

[Hat Tip: UHC]
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