Tag Archives: COBRA
FAQ: Did Congress Extend COBRA Premium Assistance For Individuals Involuntarily Terminated From Employment In 2010?
Yes, but only for a limited time. In late December 2009, Congress passed the 2010 Defense Appropriations Act (2010 Defense Act). The new law temporarily extends the eligibility period for COBRA premium assistance through February 28, 2010 and the duration of the subsidy for an additional six months (up to 15 months). Continue reading
IRS Updates COBRA Premium Assistance Guidance For Employers And Dislocated Workers
Many unemployed individuals want to keep their former employer-provided health insurance but the cost is too high. To help pay for COBRA continuation coverage, the American Recovery and Reinvestment Act of 2009 (2009 Recovery Act) provides a temporary subsidy. COBRA premium assistance is available for individuals who are involuntarily terminated from employment between September 1, 2008 and December 31, 2009.
How Do I? Determine if someone has been ‘involuntarily terminated’ for purposes of the new COBRA subsidy?
Individuals who have been “involuntarily terminated” from employment may be eligible for a temporary subsidy to help pay for COBRA continuation coverage. The temporary assistance is part of the American Recovery and Reinvestment Act of 2009 (2009 Recovery Act), and … Continue reading
IRS Provides COBRA Guidance
The Internal Revenue Service has issued guidance to clarify the COBRA benefits offered under the recently passed stimulus bill. Continue reading
Payroll and Cobra Provisions of the Economic Stimulus Plan
As published on the AICPA’s Economic Crisis Resource Center:
Several provisions of the economic stimulus plan may have a significant impact on your company or clients’ business, including the “Making Work Pay” tax credit and a host of COBRA requirements and provisions, ranging from a special 60-day election period and an additional plan enrollment option for COBRA recipients.
Read the article for a summary of the provisions that may affect your business.
Continue reading
Posted in Accounting & Auditing, Tax
Tagged AICPA Economic Resource Center, COBRA, Making Work Pay, Stimulus Plan
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