In 1985, a law known as COBRA was put into place to give laid off-workers the right to hold onto their employer-based health insurance for up to 18 months so long as they continue to pay the premiums, including payments that their employers used to make on their behalf.
In the past very few people could afford this option, but the government subsidies have changed that, and now enrollments appear to be growing sharply. Even though federal officials do not have figures on the number of people participating in the program, millions have been eligible. The law covers anyone laid off between Sept. 1 of last year and Dec. 31 of this year.
Many people relying on the COBRA subsidy are about to see the benefit expire, including many who remain unemployed. “The Obama administration and some members of Congress are talking about whether to extend the subsidy. Some lawmakers aren’t enthused because of budget concerns, but backers say the subsidy is a crucial lifeline for people still hunting for jobs.” Please take some time and visit our new virtual interactive website at www.kimberleyvassal.com