Over 7 million Americans will qualify for the new COBRA subsidy. Are you one of them?
The COBRA subsidy is a welcome relief for families struggling to keep health insurance during unemployment. The current provision reimburses 65% of the cost of COBRA for up to nine months.
Here are the key reasons why you may not be eligible for the subsidy.:
- If your former employer has gone out of business
- If you worked for a small company (fewer than 20 employees) and live in a state that does not have COBRA continuation coverage
- If you are eligible for other group health coverage (such as through a new employer’s plan or a spouse’s plan) or Medicare
Also, you must have been eligible for COBRA from the period of September 1, 2008 to December 31, 2009.