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Q:  Are the prices that were quoted today on March 12, 2009 reflecting the 65% assistance from the government. If not when will it begin. I have a pre-existing condition of a broken leg...up to now most of my bills have been paid....I just lost my job a week ago.

A:  Due to your pre-existing condition your best option would be to continue your coverage with COBRA through your previous employer.  Contact the HR department and ask them for a COBRA packet.  They have 45 days to send it to you.  We have no connection to the Federal Government. 

The American Recovery and Reinvestment Act of 2009 (also known as the federal stimulus package) provides for premium reductions and additional election opportunities for health benefits under the Consolidated Omnibus Budget Reconciliation Act of 1985, commonly called COBRA. 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. The premium reduction applies to periods of health coverage beginning on or after February 17, 2009 and lasts for up to nine months.

The premium reduction for COBRA continuation coverage is available to "assistance eligible individuals".

An "assistance eligible individual" is the employee or a member of his/her family who:

·          is eligible for COBRA continuation coverage at any time between September 1, 2008 and December 31, 2009;

·          elects COBRA coverage; and

·          is eligible for COBRA as a result of the employee's involuntary termination between September 1, 2008 and December 31, 2009.

Those who are eligible for other group health coverage (such as a spouse's plan) or Medicare are not eligible for the premium reduction. There is no premium reduction for premiums paid for periods of coverage prior to February 17, 2009.

If an individual’s modified adjusted gross income for the tax year in which the premium assistance is received exceeds $145,000 (or $290,000 for joint filers), then the amount of the premium reduction during the tax year must be repaid.

If you are looking for a more affordable option to your COBRA coverage CLICK HERE to get your free quote!