Congress Extends (Again) the COBRA Premium Subsidy
In what is becoming a common occurrence, Congress again has extended and modified the COBRA premium subsidy program originally created under the American Recovery and Reinvestment Act of 2009. On April 15, 2010, President Obama signed the Continuing Extension Act of 2010. For background information regarding the COBRA premium subsidy, see our earlier Client Advisories regarding this topic from March and December.
The endless extensions are not over. Pending legislation, the American Workers, State and Business Relief Act of 2010, would extend the COBRA premium subsidy for involuntary terminations through December 31, 2010. This legislation is expected to pass soon.
Please contact any member of our Employee Benefits Team for more information or updates regarding these requirements.
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©2010 Sherman & Howard April 28, 2010