Not surprisingly, questions remain on the decision to subsidize COBRA health insurance benefits for some people who recently lost their jobs and, with it, their health coverage. This element of the recently enacted stimulus bill offers eligible individuals a 65% reduction in their premiums for up to nine months.But his hopes were dashed; turns out the dates are wrong, of course:
Employers are still scrambling to understand the rules and comply with them; the timing for receiving notice is extremely tight. If you think you're eligible for the subsidy, but haven't received notice yet, you should soon. Employers have sixty days from date of enactment (that is, by 17 April) to send notices to assistance-eligible individuals who lost coverage between 1 September 2008, and 16 February 2009. For those eligible for the assistance who lost employment-based health insurance on or after 17 February of 2009, the employer generally has 44 days from the date the employee lost coverage to provide a COBRA notice that includes an explanation of the subsidy. In any event, if you've lost your job since 1 September and think you qualify, you can contact your company's benefits or HR department to get things started.Rico says he started his COBRA back when the landmine went off in his head in 2007, so this won't apply (he thinks; if anyone knows otherwise, email him immediately, with his thanks).
[Update: Rico says that he got a letter from his previous employer, implying that this may apply to him after all. Goody.]
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