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COBRA insurance coverage is a common phrase, but most people aren't fully aware of what COBRA is, what it costs, and whether or not it's really beneficial to an unemployed worker. Lucky for you ...
Only 10% of Americans eligible for COBRA insurance in 2006 used it, many because they were unable to afford to pay the full premium after their job loss. [16] While some employers may voluntarily help subsidize or fully cover the cost of COBRA insurance as part of a termination or exit package, it is more common for the ex-employee to cover the ...
Fortunately for the newly unemployed, there are a number of insurance options depending on your situation, finances and needs. Before you consider insurance options, it is important to do two things.
Finding health insurance to replace COBRA is an uphill battle for many with. For millions of unemployed Americans, access to the temporary health insurance program known as COBRA is running out ...
Unemployment insurance is funded by both federal and state payroll taxes. In most states, employers pay state and federal unemployment taxes if: (1) they paid wages to employees totaling $1,500 or more in any quarter of a calendar year, or (2) they had at least one employee during any day of a week for 20 or more weeks in a calendar year, regardless of whether those weeks were consecutive.
The Equal Access to COBRA Act was a bill which would amend the Internal Revenue Code, the Employee Retirement Income Security Act of 1974, and the Public Health Service Act to extend COBRA health insurance coverage to qualified beneficiaries, defined to include domestic partners.
Unemployed workers who have been taking advantage of a federal subsidy to help them pay for continued health care coverage will soon get an unwelcome reminder of how much that insurance really costs.
[citation needed] However, employers can require their former workers to pay 102 percent of the full premium for COBRA among many other hurdles and HIPAA doesn't ensure that workers who change jobs will have access to health insurance coverage on the new job or that the coverage offered will be affordable. Thus, neither COBRA nor HIPAA ensures ...