Lost Your Job and Need Help Paying COBRA Premiums?
Or when you lost your job, did you not take COBRA because you could not afford the premiums?
If you were involuntarily terminated on or after September 1, 2008 and are not eligible for other health coverage (such as a spouse’s health plan or Medicare), then you may be eligible for a 65 percent reduction of your COBRA premium for up to 9 months. If you didn’t elect COBRA, you may have an additional opportunity to elect it now and take advantage of the premium reduction.
President Obama’s “American Recovery and Reinvestment Act of 2009” (ARRA) provides for premium reductions and additional election opportunities for health benefits under the Consolidated Omnibus Budget Reconciliation Act of 1985, commonly called COBRA. Eligible individuals pay only 35 percent of their COBRA premiums and the remaining 65 percent is reimbursed to the coverage provider through a tax credit. The premium reduction applies to periods of health coverage beginning on or after February 17, 2009 and lasts for up to nine months for those eligible for COBRA during the period beginning September 1, 2008 and ending December 31, 2009 due to an involuntary termination of employment that occurred during that period.
For more information, ask your former employer or contact the U.S. Department of Labor’s Employee Benefits Security Administration at:
1-866-444-3272
or
visit: www.dol.gov/COBRA
