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The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) is a law passed by the U.S. Congress on a reconciliation basis and signed by President Ronald Reagan that, among other things, mandates an insurance program which gives some employees the ability to continue health insurance coverage after leaving employment.
This means that if, for example, a person is employed by a company from January through June and covered on their cafeteria benefits plan (including FSA) during that time, but does not elect and pay for continued coverage under that plan (i.e., COBRA), the person's coverage period is defined only as January through June, not January through ...
Some fringe benefits (for example, accident and health plans, and group-term life insurance coverage up to $50,000) may be excluded from the employee's gross income and, therefore, are not subject to federal income tax in the United States. Some function as tax shelters (for example, flexible spending, 401(k), or 403(b) accounts).
Those of us who have lost a job that included health insurance have had the opportunity to take advantage of the Consolidated Omnibus Budget Reconciliation Act (COBRA), which guarantees the ex ...
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 ...
Medicare is a government administered health insurance program for senior citizens. [9] In the 10 years following the creation of Medicare, mandatory spending increased from 30 percent to over 50 percent of the federal budget.
Tax Farming is where a government grants persons the right to collect taxes and turn them over to the government. Tax holiday is a policy where certain taxes are not collected for a period of time. Tax-free shopping is a policy where visitors to a country can get their sales taxes or other taxes refunded.
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