Cheaper and more accessible healthcare under COBRA
It’s a ray of light amidst the looming doom and gloom of the global financial crisis is the news that recently terminated workers will still get some healthcare benefits under the recent economic stimulus package of President Barack Obama.
A provision in the recently enacted economic stimulus package that would provide federal subsidies to help cover the cost of health insurance premiums under COBRA will make the program more affordable and accessible, the Wall Street Journal reports. Under the provision, workers involuntarily terminated between Sept. 1, 2008, and Dec. 31, 2009, and whose annual incomes do not exceed $125,000 for individuals or $250,000 for families qualify for subsidies to cover 65% of the cost of health insurance premiums under COBRA for as long as nine months.
Read the full story here.
This is finally, good news amidst the seemingly overwheming odds stacked against many American workers, especially those who have recently been laid off and are wondering and worrying about their future. This gives newly laid-off people easier access to state health care plans which are helpful in emergencies and those who need constant trips to the doctor. We hope that the stimulus package pays off even more for these workers – and for everybody for that matter – in the long run.
Public healthcare system may suffer from massive unemployment » The Health Insurance Blog
[...] against the public healthcare system as more and more people are losing their jobs and depending on public healthcare for their medical needs. Does the government and the state have enough resources to address this [...]
Public healthcare system may suffer from massive unemployment | The Health Insurance Blog
[...] against the public healthcare system as more and more people are losing their jobs and depending on public healthcare for their medical needs. Does the government and the state have enough resources to address this [...]