[itroundtable] FW: [NetworkingCentral] Fw: Provisions Of The Cobra Subsidy Extended And Expanded

 

 

 

Chuck Burg

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From: NetworkingCentral@yahoogroups.com [mailto:NetworkingCentral@yahoogroups.com] On Behalf Of RON RESNICK
Sent: Friday, March 12, 2010 5:32 PM
To: NetworkingCentral@yahoogroups.com
Subject: [NetworkingCentral] Fw: Provisions Of The Cobra Subsidy Extended And Expanded

 

 

 

 

----- Original Message -----

From: Eli Jacobs

To: JSWT

Sent: Friday, March 12, 2010 4:12 PM

Subject: Fwd: Provisions Of The Cobra Subsidy Extended And Expanded

 

From: Meltzer Lippe [mailto:mlg&bllp@meltzerlippe.com]
Sent: Friday, March 12, 2010 2:27 PM
To: joelplaut@hotmail.com
Subject: Provisions Of The Cobra Subsidy Extended And Expanded

 

Provisions Of The Cobra Subsidy Extended And Expanded March 11, 2010                The American Recovery and Reinvestment Act of 2009 (ARRA) provided for premium reductions for individuals eligible for health benefits under the Consolidated Omnibus Budget Reconciliation Act (COBRA).  An eligible individual would pay thirty-five (35%) percent of their COBRA premiums with their employer paying the balance for a period of nine (9) months.  Employers would receive a payroll tax credit equal to the amount they paid towards COBRA.            Originally, only those covered individuals involuntarily terminated between September 1, 2008 and December 31, 2009 (later extended) were eligible for the subsidy.  On March 2, 2010 the Temporary Extension Act of 2010 was signed by President Obama.  Several meaningful changes to ARRA were effectuated.            First, an individual is now eligible if involuntarily terminated  between September 1, 2008 and March 31, 2010.  Second, also eligible for the subsidy are individuals who experienced a reduction in hours which triggered a loss of health coverage followed by an involuntary termination occurring on or after March 2, 2010 but by March 31, 2010.            A further extension of the COBRA subsidy, beyond March 31, 2010, is likely.       Meltzer, Lippe, Goldstein & Breitstone LLP 190 Willis Avenue, Mineola NY 11501   Phone: 516-747-0300   Fax: 516-747-0653 E-mail: theadvantage@meltzerlippe.com Visit the Web Site www.meltzerlippe.com To unsubscribe to future mailings, please click here

Meltzer, Lippe, Goldstein & Breitstone, LLP

 

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