As you may know Congress extended the COBRA Premium Reduction Subsidy an additional 31 days through the end of March. This means that anyone terminated involuntarily through 3/31/2010 could be eligible for the COBRA Premium Reduction Subsidy (if they also meet a few other qualifiers). We are in the process of having our legal team update our notices to reflect the recent legislative changes, and will be sending out COBRA Election Notices for anyone terminated 3/1 or after once we have the updated notices back from legal.
Archive for the ‘COBRA Compliance’ Category
Employers / Plan Sponsors who are subject to state or federal COBRA must provide premium subsidies of no less than 65% of regular COBRA premium to “Assistance Eligible Individuals” beginning March 1, 2009. Employers must provide notice of the subsidy’s availability to all eligible individuals within 60 days of the law’s enactment.