COBRA subsidy extension kaput for now

The House of Representatives passed a jobs bill on May 28, but getting the required votes forced congressional Democrats to remove an extension of the federal subsidy of COBRA (Consolidated Omnibus Budget Reconciliation Act) health insurance benefits for laid-off workers as part of a $24 billion cost-cutting spree, reports Insurance and Financial Advisor. Consequently, the 65 percent subsidy expired on May 31, and laid-off workers now will have to pay current premiums in full to keep their health insurance. The Senate won't consider the jobs bill until it returns from the Memorial Day recess on June 7. Rep. Henry A. Waxman (D-Calif.) wants Congress to tackle COBRA after the holiday recess; legislators could address the subsidy extension or the eligibility period for the subsidy. Article

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