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In addition, employees who lost group health insurance due to reduced work hours on or after Sept. 1, 2008, followed by involuntary termination between March 2 and March 31, 2010, will now be eligible for the COBRA subsidy. [23] The Continuing Extension Act of 2010 extends premium assistance for COBRA benefits through May 31, 2010. [24]
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.
Option 3: COBRA. Most businesses of 20 or more employees are required to offer an extension of your insurance when you leave a full-time job, thanks to the Consolidated Omnibus Budget ...
COBRA continuation coverage helps people who have lost employee health insurance, while Medicare plans usually provide medical coverage for people over the age of 65. COBRA and Medicare can ...
An employer in the United States may provide transportation benefits to their employees that are tax free up to a certain limit. Under the U.S. Internal Revenue Code section 132(a), the qualified transportation benefits are one of the eight types of statutory employee benefits (also known as fringe benefits) that are excluded from gross income in calculating federal income tax.
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.
Reimbursements of qualified claims are tax-deductible for the employer. Employers know their maximum expense related to their health care benefit. Advantages of HRAs for employees include: Contributions that employers make can be excluded from employees' gross income (contributions must be made by the employer, not come from payroll reductions).
The cornerstone American Recovery and Reinvestment Act, signed into law in February, contained a key provision to help the newly unemployed keep their employer-sponsored health-care plans. Most ...