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COBRA subsidy is extended–good thing, since California’s unemployment rate is up!

04-17-2010 by Colleen King

On April 15th, Tax Day ironically, Congress voted to extend the 65% COBRA subsidy eligibility period through May 31. Meaning, if you are ‘involuntarily terminated’ from your job and not for ’cause’ (’cause’ meaning you did something wrong) you will be eligible for this extension. Eligible folks can have the subsidy of 65% up to 15 months under the current program. Depending on how much that brings down your cost, you might also consider looking at an individual plan but I know that subsidy is tempting.

Since the news came out today that California’s unemployment in March is the highest ever, 12.6%, up from 12.5% in February, that’s probably a good thing. And most likely California’s CalCOBRA program will follow suit as it has before. From the article above, it sounds like Republicans were balking at this bill which also included increasing unemployment benefits and a few other things (click here to see what all) because it supposedly will add $9 billion to the budget deficit.

After health care reform, what’s another $9 billion?

Be well!


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