Unemployment Extension: Is Coverage For COBRA Health Ins. In My Check
By Jeffrey Paulsen on July 24, 2010, 12:19 pm Posted in Economy NewsMany of the nation’s jobless will find additional relief from the unemployment extension 2010 bill. The new measure quickly passed through the Senate and the House, and was signed into law by President Obama as the U.S. jobless rate soars. The extended unemployment benefits will be available to those who have already received 26 weeks of unemployment checks, but are under the 99 week threshold. There will be no further relief for those who have already exhausted all 99 weeks of benefits that were available under the last extension.
COBRA
There will also be no further COBRA subsidy beyond 26 weeks of unemployment. COBRA is a federal law that allows workers to remain covered by their former employer’s health insurance policy for up to 18 months. Typically, unemployed individuals must pay the entire premium, plus an administration fee to maintain their COBRA insurance.
Previous Bill
The previous unemployment extension bill subsidized 65% of COBRA premiums. This allowed the average unemployed individual to maintain their families health insurance coverage for about $389.00. However, the COBRA extension had to be struck from the legislation in order to lower the price tag to a level acceptable by the Republicans who would otherwise oppose it. The bill, as it stands, adds $33 billion to the national deficit.
In order to continue under a former employer’s health care coverage, the average family will now have to pay about $1,100.00, according to Families USA, a health care advocacy group. At this price tag many of the unemployed will not be able to afford coverage.
State Relief
There may be some state-offered relief. As part of the new Obamacare laws, all states were required to begin offering discounted catastrophic health plans by July 1, 2010. Individuals should look to their state’s website to determine what is available and how to apply. Once accepted into these state programs they will be covered for any condition, by must pay the cost of the discounted policy. Medicaid programs are available as a last resort. These programs are also run by the states, so individuals should check with their state’s health department for instructions on how to apply.
Related posts:
- Unemployment: Several Options For Post-COBRA Health Insurance Plans
- COBRA Subsidy Extension 2010: Debt Consolidation Will Be Needed
- Unemployment Extension: Tier 5 & 99ers Debate Likely To Heat Up Soon
- When Are The Unemployment Checks Going To Be Sent Out
- Unions Blast Reid’s $15B Jobs Bill As A “Band-Aid”
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