April 23, 2010
New COBRA Subsidy Extension
Congress recently passed the Continuing Extension Act of 2010 which approved an extension for the COBRA Subsidy for the third time. Individuals who are involuntarily terminated on or before May 31, 2010 are now eligible for the subsidy which covers 65% of the cost of COBRA coverage.
Without the extension, employees who are involuntarily terminated after March 31 would have been ineligible for the subsidy.
It is also worth noting that this may not be the last extension in 2010; lawmakers are still considering a longer term extension for the COBRA subsidy.
As more information becomes available we will notify you of any changes or developments.
Please contact your A.E. Mourad Agency, Inc. representative with any questions.
A.E. Mourad Agency, Inc.
28277 Dequindre, Madison Heights, MI 48071
Phone: (248) 336-1600
Fax: (248) 336-1607
Web: www.aemourad.com