Legislator Jacobs Announces COBRA Premium Reduction for Workers Who Lose their Jobs
Nassau County Legislator Judy Jacobs, (D-Woodbury), is pleased to announce that the US Department of Labor’s Employee Benefits Security Administration (EBSA)has published information to help a COBRA “qualified beneficiary” who meets the requirements under the American Recovery and Reinvestment Act of 2009.
To qualify for premium assistance, a beneficiary must be involuntarily terminated between September 1, 2008 and December 31, 2009. The Act provides for a 65 percent subsidy in COBRA premiums for certain individuals eligible for assistance of up to nine months. Eligible individuals pay only 35 percent of their COBRA premiums and the remaining 65 percent is reimbursed to the coverage provider through a tax credit. There is no premium reduction for periods of coverage that began prior to February 17, 2009.
For more information please call the Toll-free hotline at 1-866-444-EBSA.