Monday, January 4, 2010

Weekly Savings Tip: January 04, 2010

COBRA Premium Subsidy Program Extended

On December 19, 2009, President Obama signed into law the Department of Defense Appropriations Act, 2010, which extends the 65 percent COBRA premium subsidy to February 28, 2010.

The American Recovery and Reinvestment Act of 2009 provided a government subsidy of 65 percent of the cost of COBRA coverage for employees (and their eligible family members) who lost their health insurance coverage due to involuntary termination of employment in 2009. In addition to the subsidy being extended to 15 months, employees who lose their jobs in January or February of 2010 will still be eligible.

For more information on the American Recovery and Reinvestment Act of 2009, visit the U.S. Department of Labor Web site.

Visit the Life Crisis section on the 360 Financial Literacy Web site for additional information on receiving unemployment benefits.

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