COBRA Subsidy Eligibility Period Has Been Extended-Again!
President Obama recently signed the Continuing Extention Act of 2010 which has now extended the eligibility period for the COBRA subsidy for an additional two months (ending May 31, 2010). As a result, if you have terminated any employee in April, or if you terminate an individual in May, they will be eligible for the subsidy. The Continuing Extention Act does not change the amount or duration of the subsidy.
Notice of the subsidy must be provided to qualified beneficiaries by June 14, 2010. In addition, the COBRA election period for anyone who had not elected the COBRA coverage must be extended to 60 days following their notification of their right to electing COBRA. For any additional clarifications please discuss this with your broker.