Ask Us a Question Home Page | Glossary | Favorites | Ask Us a Question Ask Us A Question Home Page | Glossary | Favorites | Ask Us a Question
Search COBRA Insurance Questions Browse by Category

[Advanced Search]
Reduced Rate Stimulus program - Florida bank
Would you like to...
Print this pagePrint this page
Email this pageEmail this page
Post a commentPost a comment
Subscribe me
Add to favoritesAdd to favorites
User Opinions (4 votes)
100% thumbs up 0% thumbs down
How would you rate this answer?
Helpful
Not helpful
Q:  My position was eliminated by my former emloyer, a Florida bank. The bank has 15 employees. I want to take advantage of the COBRA reduced premiums offerred by the Stimulus plan. Does the state of Florida have a provision that requires my former employer to participate in the lower rate program?

A:  • Employee Eligibility
Individuals who have been involuntarily terminated between September 1, 2008 and December 31, 2009 with annual incomes less than $125,000 (single) or $250,000 (couples) are eligible for the COBRA premium assistance, along with their family.  Qualified individuals, who initially decline COBRA coverage, would be given an additional 60 days after they receive notice of the special election period to elect to receive the subsidy. The election period begins on the date of enactment of the ARRA.

Updated News:  The law is so new that many human resource managers likely won’t know how to implement the change until guidelines are released by the federal Department of Labor.  The new rules should be available within 30 days of President Obama’s signature.


Official COBRA Insurance Website
Related Questions
No related questions were found.
Attachments
No attachments were found.

Copyright 2007 COBRA Insurance .com - COBRA Insurance Information Source. All rights reserved.
 
Important Disclaimer:  COBRA is a law (It is not an endorsed insurance plan or company).  Answers and comments provided on Cobra insurance .com website are general information, and are not intended to substitute for informed professional medical, psychiatric, psychological, tax, legal, investment, accounting, governmental, or other professional advice. Cobra insurance .com does not endorse, and expressly disclaims liability for any product, manufacturer, distributor, service, health plan, or service provider mentioned or any opinion expressed in the website.  Replies, comments, or information gathered on Cobra insurance .com website may not be accurate but are intended to be helpful.