On December 31, the government subsidized health insurance under the COBRA program is set to expire.
What is COBRA? COBRA is a federal program that allows you to continue your health insurance after you leave a company. If you choose this option, you must pay your share and the company's share of your health insurance. For singles it averages about $400.00 and for families it averages $1050.00
To help the unemployed keep their health insurance, Congress passed a law subsidizing 65% of monthly health insurance premiums. The law covers those laid off between September 1, 2008 through December 31, 2009. Unemployed persons can receive the subsidy for nine months.
For those who started receiving the subsidy on the first possible month, March1, their subsidy will expire on November 30
If you are unfortunate enough to lose your job between now and December 31, you still can qualify for the subsidy. However, after December 31, you will not qualify..
Should Congress extend this program?
Before the bell: Futures sharply lower on Dubai's debt problems
Will Rich Ross really have a positive impact on Disney's movie operations?
Consumers sick of recession, may spend extra on holidays
Reader Comments (Page 1 of 1)
11-12-2009 @ 7:30PM
rpa122112 said...
Yes ! Soon millions of people will have on average $600.00 less per month to spend and put back into the economy, or will have to go without health insurance or move to the medicaid system. In the event that someone needs medical care the service will become an uncolletible debt for the doctor, if they opt for medicaid then tax dollars are drained from the program. Many people that are financially comfortable and have no major health issues feel that the unemployed newly poor are free loaders. They will never understand until they are standing in the other mans shoes. I have been just keeping my head above water, but my wife has needed constant care since 1985 due to renal failure. She became a kidney transplant patient in 1991 and the medicare stopped. Going without health insurance is not an option and a medicaid system that starts cutting corners on her treatment could put her back on a dyalisis machine. So Yes. Please find it in your heart to let people that through no fault of their own find themselves in difficult circumstances. I need work that pays at least 32k a year rpa122112@gmail.com