COBRA benefits if you are facing unemployment
Hello, Frugalistas! Unfortunately, this job market is still no fun. I've had a spate of friends laid off recently, so I thought I'd do a post on some things people recently unemployed need to know about health care:
1) If you were/are laid off work from Sept. 1, 2008 to December 2009, you may be eligible to get 65 percent of your COBRA premiums paid for by the government. The government subsidy lasts for up to nine months. Contact
the human resources department at your company or the COBRA administrator for more information.
2) To be eligible, your annual income can not be more than $125,000 for a single person or $250,000 for a couple.
3) If you declined COBRA coverage after September 1, 2008, you have the option to enroll into COBRA with the stimulus benefits.
4) The government subsidy kicked in after Feb. 17, 2009. If you were on COBRA before that, the government won't subsidized the previous months.
I hope this helps a little bit. Information is power and health care is paramount.
Do you have any tips on affordable health care? If you do, please share!
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